ANOTHER homegrown developer is eyeing the possibility of conducting an initial public offering (IPO).
Contempo Property Holdings Inc. (CPHI) president and chief executive officer Beverly Dayanan disclosed her bold plans for the company last week as she opened her franchise of Bo’s Coffee at the Bamboo Bay Community in Subangdaku, Mandaue City to complement the development.
“We see ourselves as an ISO company, a prelude to an IPO. (This is) one of the good ways to tap the capital market. After five years, by that (time), we can say we are ready and we are stong,” Dayanan told reporters in a media roundtable.
The announcement came after Cebu Landmasters Inc. chair and CEO Jose Soberano III signaled his interest to push for an IPO, tapping BDO Capital and Investments Corp. as financial adviser and underwriter for the maiden share sale.
On the same day, the company announced to the press that it has been awarded World Quality Commitment Award from the Business Initiative Directions in Paris, France last month.
By 2017, Dayanan disclosed that CPHI will launch a total of five projects in Cebu, Davao, and Cagayan de Oro.
Part of next year’s plans are the launching of 700 low-cost houses in Mactan as well as a subdivision project located in the northern part of Cebu, which will have 200 units priced between P2 million and P5 million.
The company is also set to build a 20-storey condominium in Barangay Lahug in Cebu City next year.
The expansion in Cagayan de Oro will be entail low-cost horizontal housing while plans for Davao City will adopt a “low to middle-market” housing project after the company acquired a 12-hectare property in the area.
The executive said the launching of the brands for some of these developments is also scheduled next year. CPHI’s maiden project, Bamboo Bay, is the brand for middle projects, while Sunberry Homes is for its low-cost and economic housing developments.
According to Dayanan, the next few years will be focused on housing. But five years from now, she said the company will diversify to commercial and office leasing.
Moving forward, she added that she intends to go into the hospitality business, most likely hotels and other tourism-related developments.
Putting up a foundation is also part of the plans, she said, with corporate social responsibility (CSR) projects geared toward education and women empowerment to be professionally managed.
For now, however, Dayanan underscored that aside from expanding their residential portfolio, the company is strengthening its internal organization.
Last Oct. 16, Dayanan received the World Quality Commitment Award from the Business Initiative Directions (BID) in Paris, France. Dayanan said the award has inspired them to grow the company even further, noting that they were the only Cebu-based company to be awarded.
The World Quality Commitment Award “recognizes and promotes companies, organizations and institutions that understand the dedication, continuous improvement, innovation and relentless pursuit of productivity that leads to excellence,” the BID said in its website.