LANDCO Pacific Corp. (Landco) is allotting P3.5 billion as capital expenditure this year to finance ongoing and new projects.

In a press briefing Wednesday, executive vice president and chief operating officer Francis Ceballos said the capex will be funded by internal cash and sales from preselling activities.

Among the projects that will keep the company busy this year include the existing ventures Playa Calatagan in Batangas, the Hacienda Escudero in Quezon, Amara en Terrazas and the TRIbeca residential project in Parañaque. New projects include Playa Laiya in San Juan, Batangas; the Playa Azalea on Samal Island, Davao; WoodGrove Park residential community in San Fernando, Pampanga; and the Playa Calatagan Resort and Hotel.

Ceballos said half of the capex will go to its leisure-community development, while the other half will be distributed to its hometown-community projects and the TRIbeca venture.

Landco, a unit of listed Metro Pacific Investment Corp., posted a net income of P261.2 million in 2007 from a loss of P12.9 million a year earlier.

The turnaround was on the back of the 191-percent jump in its revenues to P2.08 billion from last year’s P712.4 million.

With the launch and marketing of new projects in the year just concluded, Landco’s operating expenses rose to P884.2 million from 2006’s P695.8 million, an increase of 27.1 percent.

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LANDCO Pacific Corp. (Landco) is allotting P3.5 billion as capital expenditure this year to finance ongoing and new projects.

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