New San Jose Builders Inc (NSJBI) has started charting its expansion pending its possible listing in the stock market.
NSJBI co-chairman Dr. Isagani Germar said there is an increasing demand for residential products, fueled by low interest rates and easy financing packages.
“As long as there is demand, we can always supply the requirement. We believe in the next five years, demand will continue to be strong,” Germar said.
Catering to the affordable segment of the market, NSJBI offers condominium units priced below P2 million. They also offer down payments as low as 20% of the amount, payable in a 24-month period.
The company brings more than 10,000 units to the market annually to make up for the 3.9 million housing backlog.
NSJBI also downplayed Banko Sentral ng Pilipinas (BSP)’s move to hike interest rates.
“The property market is booming mainly because the buying and borrowing capacity is enough to avail of condo units or house and lot packages. For the last several years, it has helped that interest rates have gone down significantly. Homebuyers are not after the overall cost of the property but the affordability of the monthly amortization,” Germar said.
Because of the continued growth of the real estate market, NSJBI is planning to go public, so as to fund its expansion beyond Metro Manila.
The company is planning to expand in other urban centers like Cebu or Davao.
“We are preparing for that. I believe within a five-year period, we will be a public company,” Germar said.
Germar added that they will continue building high-rise towers in Metro Manila to fill in the demand for affordable housing.
At present, the company has condominium projects in Quezon City, Taguig, Manila and Valenzuela.
NSJBI also takes pride in building projects located near major thoroughfares, providing accessibility to its buyers.
It also has its own network of builders and construction professionals, making it possible for them to offer units at a lower price.
“We can offer our services at a much lower price without sacrificing the quality,” Germar said.
Founded in 1986 by Germar, Jose L. Acuzar, and Engr. Cesar Sanqui, NJSBI has assembled different service and recreational facilities, townships and residential condominiums. Among its recent developments are the Philippine Arena, the world’s largest indoor arena located in Bulacan, and the Las Casas Filipinas de Acuzar in Bataan.
