PREMIUM affordable housing developer Ovialand Inc. (OLI) will focus more on expanding its developments and keeping production capacity growing before listing at the Philippine Stock Exchange (PSE).

"So, right now, we're still a little indefinite with the listing date, although we are still actively fundraising but perhaps not yet for an idea," OLI President and Chief Executive Officer Pammy Olivares-Vital said to reporters at the sidelines of the Shareholders' Association of the Philippines Inc. event last week.

Olivares-Vital reiterated that once the larger initial public offerings happen, such as SM Prime Holdings' real estate investment trust and Enrique Razon's Prime Infrastructure, this "will surely signal for us that the foreign funds are already open, and we'll be open to entertain [listing] then."

"The success in their race would be an indicator for smaller companies like us that foreign funds are back and open," she added.

Olivares-Vital said, however, that listing was not the company's goal.

"If the listing will be counterproductive to the growth, you know, meaning like you're watching stock price and then you're committed to your shareholders, to speak, there are other ways for us to expand it," she explained.

"The goal is to keep growing our production capacity," Olivares-Vital said.

In terms of company valuation, she said this would be much higher when the time comes, adding that "the company has grown for the past two years. So, we'll definitely reflect that."

The OLI chief said the company recorded a 37-percent compound annual growth rate (CAGR) in the past four years. "This year is going to be a bit higher than the previous, and we're looking for a 30-percent growth annually."

For the first half financial results, Olivares-Vital said that the company recorded a double-digit growth in sales and revenue, as well as its income.

She added that the revenue from its partnership with listed Tokyo-headquartered Takara Leben would start to reflect by the fourth quarter this year.

Also, OLI and Takara Leben are in the final stages of their second development for their 6.5-hectare Savana South in Laguna.

The pioneer in the premium affordable housing segment has involved an investment banker for its fundraising initiatives, and is trying to find a private equity fund for the company.

"We are looking really for a partner that will be fit with us [that] shares the same values, shares the same growth plans, and you know, I guess those who believe in the Philippines and on what we can deliver," Olivares-Vital said.

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