8990 Holdings gearing up for overseas expansion

By Leslie D. Venzon

MANILA, Dec. 3 (PNA) — Philippine mass housing developer 8990 Holdings Inc. is in talks with listed Singaporean company to form a joint venture to build up to 100,000 housing units in Tanzania, the largest of the East African countries.

“To make 8990 Holdings a relevant company is you have to be global,” company president Januario Jesus Atencio told reporters.

Under the proposed joint venture, Atencio said his company will serve as the developer of the housing project, while the Singaporean firm is the landowner.

He said they have set ocular visit of the proposed housing site next month.

Apart from the Tanzanian housing project, Atencio said the Malaysian prime minister also asked his company’s assistance to develop one million low cost housing units in Malaysia.

“We’re still waiting. It’s their timing. I’ve already said yes we are willing to help. This is all aboutAsean integration. We’re in the Asean countries. We should all extend each other’s hands,” he added. (PNA)