HOME IMPROVEMENT store Oversea Builders Center (OBC) said it is projecting strong demand from rapidly urbanizing areas like Calabarzon and Central Luzon.
In a statement, OBC said new housing developments and subdivisions continue to expand in those regions.
“These are the families OBC wants to serve: homeowners and builders who want to upgrade their spaces with better design and durable materials without paying luxury prices,” the company said.
Owned by Cebu Oversea Hardware Co., Inc., OBC recently opened a store in Kawit, Cavite, banking on the city’s rapid urbanization, proximity to Metro Manila, and steady influx of homeowners.
“We are not chasing fast expansion. We want to grow sustainably, area by area, adjusting to what each community needs. What matters is delivering the best experience at a fair price,” Cebu Oversea Chief Executive Officer Michael Co said.
Opened on Oct. 3, the new site along Centennial Road in Kawit occupies 5,847 square meters and targets the midmarket and high-end segments.
According to the company, the middle class is fast becoming a driving force of consumer demand.
Citing a study by the Philippine Institute for Development Studies, it said that around 39.8% of Filipinos were considered middle-income in 2021.
Fitch Solutions’ BMI projects consumer spending on household goods to grow to P270.4 billion in 2024 and to P354 billion by 2028.
“We are after being competitive. We are offering products we personally choose that meet international standards but are still within a reasonable price range,” said Mr. Co.
“You can walk in here, feel like you are in a high-end showroom, but go home with products priced for the middle class,” he added. — Justine Irish D. Tabile