Highlands nets P16.4m

Manila Standard - Leisure property developer Highlands Prime Inc. is back on the black, posting a net income in the first half of the year on higher revenues from real estate sales.

Highlands Prime said in a financial report filed with the Philippine Stock Exchange that net profit reached P16.4 million, a reversal from a P27.8-million loss year-on-year.

Highlands Prime said total realized revenues rose 61 percent to P254.6 million  from P158 million on year.
“The realized revenues for the current period were better due to the contribution of the residential lot projects, which accounted for 58 percent of the total realized revenues. Condominium and log cabin projects contributed 42 percent of the total,” Highlands Prime said.

The property company has two projects under construction, namely Woodridge Place phase 2 and Sierra Lago.

Woodbridge Place phase 2 is a condominium project at Tagaytay Highlands, while Sierra Lago is a subdivision development at Tagaytay Midlands.

For more details on Woodbridge Place, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.