Developer more confident on mid-income market

A more aggressive marketing effort and expansion in the clientele base of the middle income property market enabled lifestyle property developer, Earth+Style Corp. (pronounced as Earth and Style), to realize a sales gain of 120 percent in 2003 versus its sales the previous year, making it more robust in its performance outlook for 2004.

Arnold Acero, deputy chief operating officer of Earth+Style, said sales performance during the first quarter of 2004 already showed strong indicators that it would grow as much if not 20 percent better than last year’s record.

Acero cited the brisk growth of the company’s sales to its having expanded the market base for the middle income market in the P500,00 to P5 million; doubling the sale teams in six months and giving a strong message to consumers that they are committed in providing only the best homes of their dreams.

In 2003, for instance, the company expanded its project portfolio from P800,000 to P2.5 million price range to P500,000 to P5 million, according to Acero.

"This way, our customers have expanded from overseas Filipino workers who bring home their investments to purchase property to employees who work for service companies such as call centers (which offer a starting pay of P15,000 or more)," he continued.

"If we realize growths in the manufacturing sector, then the customer will further expand, thereby bringing more benefits to middle income developers like Earth+Style," Acero said.

Earth+Style realized an eight percent growth from February to March 2004, an indication from the market that there was an apparent shrinkage in the size of business of other similar middle income property developers operating in the same areas in Cavite and Laguna.

Earth+Style has five property projects in Laguna namely Jubilation East, Jubilation West, Villaggio di Xavier and Springtime Country all located in the masterplanned township development, Jubilation New Biñan. Two home villages are located in Cavite: Villaggio Ignatus and Springtime Country.

Jubilation East and Jubilation West cater to the upper middle income market with prices ranging from P3 million to P6 million and P1 million to P2 million respectively, Villaggio di Xavier, the Italian Mediterranean home village, belongs to the P850,000 to P1 million segments.

Sunshine Country, one of the product lines under Earth+Style Sundays brand offers prospective buyers an affordable price bracket of P500,000 to P900,000, while Villaggio Ignatius can provide an Italian-inspired lifestyle for P900,000 to P1.5 million.