Haus Talk expects P4.9-B revenue boost from Antipolo project – BusinessWorld Online
HAUS TALK, Inc. (HTI) has announced plans to acquire a property in Antipolo, which is projected to generate an additional P4.9 billion in revenue.
“The property is envisioned to be HTI’s next promising development project in the Rizal area and is expected to bring in revenues of approximately P4.9 billion,” HTI said in a regulatory filing on Tuesday.
HTI said its board of directors approved the acquisition of five parcels of land with a combined area of 135,980.5 square meters from National Steel Corp.
The transaction is expected to be completed by the end of May, assuming no unforeseen circumstances arise that would affect the decision of both parties to proceed with the deal, the company added.
The land development is expected to begin in the fourth quarter of this year, HTI said.
“This transaction will expand HTI’s land portfolio and reinforce its vision of becoming the most valued and recognized property developer that provides ‘value-for-money’ residential real estate projects by investing in prime land locations,” it noted.
HTI reported a 51% increase in its net income for 2024, reaching P365 million, driven by an income tax holiday and operational improvements.
The company also said revenue rose by 39% to P1.4 billion, led by its residential projects such as Southview Homes Calendola in San Pedro, Laguna, and The Granary in Biñan, Laguna.
At the stock exchange on Tuesday, shares in the company closed 0.87% lower at P1.14 apiece. — Ashley Erika O. Jose
