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LISTED
property firm Belle Corp. posted a net income of P331.7
million in 2007 from P152.3 million the previous year.
In a
disclosure to the stock exchange, it said net revenues
from operating sources amounted to P622.0 million, up 7
percent from P580.9 million recorded in 2006.
The
company’s gross sales value, or total contract price of
all sales and reservations booked during the period,
amounted to P1.47 billion last year from P683.6 million
a year earlier, owing to the favorable market reception
for Belle’s newest upscale residential project, Lakeside
Fairways.
As of
end December, the first four phases of Lakeside
Fairways, a project in Tagaytay, (Kew Gardens, Terrazas
de Alava, Lakeside Enclave and Terrazas de Alava), were
86-percent sold.
Development activity in Lakeside Fairways is planned to
begin during the first half of 2008, and most of the
revenues from Lakeside Fairways lots sold in 2007 will
accrue in the company’s income statement this year.
Belle
shifted its principal activity from mining and oil
exploration to property development when it developed a
golf course named Tagaytay Highlands Golf Club in 1989.
Its property development projects are located in
Tagaytay City and Batangas. |
