Suntrust Home makes turnaround; reports P3.47-M profit as of September

BusinessWorld

A HOLDING company of Andrew Tan reported a turnaround in profits from January to September, buoyed by the good performance of its associate property firm.

Based on its financial statement, Suntrust Home Developers, Inc.’s nine-month profit stood at P3.47 million from a net loss of P7.27 million in the same period last year.

"Over the years, Suntrust Home has continued to focus on real estate development through its associate Suntrust Properties, Inc.," Suntrust President Ferdinand B. Masi told stockholders yesterday. "Since 1997, the property company has led the way in providing affordable homes and in strategic locations.

"The property firm delivers a high standard of comfort to the needs of low- to moderate-income Filipino families, making it the developer of choice in the affordable housing sector," he added.

Suntrust Properties is currently developing Cybergreens, Governor’s Hills and Sunrise Hills, all of which are located in Cavite, and Sta. Rosa Heights in Laguna.

Among its recently launched projects are Suntrust Adriatico Gardens and Suntrust Parkview in Manila and the Gentri Heights in General Trias, Cavite, which it launched earlier this year.

Suntrust Adriatico is a joint venture project with the Manila government while Suntrust Parkview is a six-tower condominium complex. Gentri Heights is a gated community offering single-detached homes along Governor’s Drive. Read More...