The steady growth in residential sales and strong rental expansion within the rental business meant only good things for some of the country’s biggest real estate developers. The strength of this growth led to an increase in net profit within the first three months of the year.
In a telephone interview, AB Capital Securities senior equity analyst Alexander Adrian O. Tiu exclaimed, “there has been flat to high single-digit growth when it comes to residential revenue, but this is quickly offset by the double-digit growth in rental income from offices and commercial centers.” Growth in reservation sales also slowed to 2% during the first quarter.
