Changing lives through housing

MANILA, Philippines - For Jesus “JJ” Atencio III, one of three partners behind property developer 8990 Holdings, being in the housing business is not all about business.

“It’s also about changing lives,” Atencio told The STAR in a recent interview.

 â€œIf you notice in the history of the world, societies have been toppled primarily because the people were landless. With our affordable housing units, we are empowering them, resulting in a more stable and social political environment,” he said.

Indeed, from 8990’s sales agents to the buyers themselves, the success stories are endless.

 â€œFrom a family that owned no piece of land, they now own a piece of real estate. When that happens, when you become a land owner, not just a renter, it is very fulfilling and empowering,” he said.

 The Filipino culture, he noted, puts a premium on land ownership.

 With 8990’s Deca Homes projects, the lower-income segment has been afforded the chance to buy their own homes.

 â€œIn Deca Homes, our buyers have elevated themselves from rental class to an owning class because the units are affordable,” Atencio said.

 He said 8990’s homeowners are also able to use their homes as collateral.

 â€œIt opens up opportunities to lower and middle class Filipinos,” he said.

 The target market is usually those who are earning – either individually or gross family income –  between P15,000 to P25,000 a month.

 Deca Homes units start at P800,000, which already includes a two-bedroom house and lot.

 In terms of financing, Atencio said 8990’s financing scheme takes into consideration the realities of homeowners.

 â€œWe consider realities while other developers will require a 20 percent downpayment. To require a 20 percent downpayment at the same time paying a monthly rent will stress their cash flow,” Atencio said.

 Thus, for P20,000, buyers can move-in immediately, at least for  Deca Homes units.

 8990 Holdings has at least 22 years of experience in the housing business. It has completed more than 51 residential subdivisions and successfully turned over more than 40,000 housing units in Cebu, Davao, Angeles, Lipa, Cavite, and Naga.

Aside from residential homes, the 8990 Group is also into hotels and tourism-related development such as watersports facilities in Angeles and Davao for residents of its housing projects.

“We also have resorts and facilities in Angeles and Davao. We have swimming pools and a basketball court,” he said.

Deca Homes is 8990’s residential subdivision segment. The subdivisions are located mainly in the outskirts of Metro Manila such as Muntinlupa and Cavite.

 The company has three types of housing units for Deca Homes: a single-story detached residential unit, a single-floor  attached unit built in a row of four or more units joined by common walls, and a two-story townhouse built in a row or more units also joined by common sidewalls.

 The company also offers medium-rise buildings as well as high-rise residential buildings.

 Moving forward, Atencio said the company is optimistic on the prevailing economic environment in the country.

 Atencio said 8990 Holdings is eyeing to turn over 30,000 to 40,000 units more in the next five years.

 Indeed, 8990 Holdings looks at the property business as a way to change people’s lives by empowering not just its buyers but it sellers as well.

 â€œWe have a seller, she used to live in the squatters area. She tried her hand at selling. Today, she has transferred to her own home,” said Atencio.