ACM Homes eyes capital market
MANILA, Philippines - ACM Homes, which builds houses in the P300,000 to P3.5 million segment, is planning to tap the capital market to fund its expansion to Visayas and Mindanao.
The company, which has sold close to 10,000 low- and mid-income homes, has developed 15 projects covering approximately 100 hectares in Cavite and Batangas, where it has become a leading real estate player in its segment.
Tonette P. De Guzman, ACM co-founder, said while the firm has a landbank in Cavite that is sufficient for the next five years, it is still eyeing joint ventures in other parts of the country to further expand its reach.
She said the company’s revenues have grown 35 percent per annum over the past several years, with seafarers as one of its key markets. Seafarers earn an average monthly wage of $1,000. In 2007, the company forged a strategic marketing alliance with one of the country’s largest crew management companies, Philippine Transmarine Carriers (PTC).
ACM’s capital base has reached almost P1.2 billion.
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