8990 appoints new president and CEO

8990 Holdings Inc., the listed mass housing developer, has appointed Anthony Vincent Sotto as president and CEO of the company effective immediately. 

Sotto succeeds Alexander Ace Sotto who tendered his resignation  as director, acting president and CEO to the board in a special meeting last September 2. 

Alexander Ace Sotto continues to serve as the company’s COO. 

In a statement, Anthony Vincent Sotto said: “It is both an honor and privilege to be appointed as president & CEO of 8990 Holdings Inc.” 

He said he would continue the vision of the founders to make housing affordable to Filipinos. 

“In the 18 years that I have been with the company, I have seen how the vision of our founders have been able to change lives through affordable home ownership.  Through this position that the company has entrusted to me, I hope I will be able to continue and strengthen our commitment of providing a home to every hardworking Filipino,” he said.

Anthony Vincent Sotto has risen from the ranks at 8990, having joined the company almost 18 years ago. 

His tenure in 8990 accounts for his entire experience in the local real estate industry. Prior to joining 8990, he was an associate lawyer for Solis and Medina Law Offices. 

He joined 8990 in 2003 as assistant general manager, a post he held for eight years. 

He was then promoted to general Manager of 8990 Housing Development Corp. In June 2019, he Sotto was promoted to deputy CEO of the 8990 Group.

Sotto holds a Bachelor of Laws degree from the University of the Philippines in Diliman. He was admitted to the Philippine bar in September 2001.

Under the leadership of Alexander Sotto, 8990 Holdings delivered close to 6,000 homes as of the first half of the year. The figure is already more than half of the company’s full year 2020 figures of 9,951 delivered homes. 

In terms of geographical location, 8990 delivered bulk or 34 percent of the homes in the National Capital Region, followed by Iloilo and Bacolod which had a take-up of 22 percent. North Luzon accounted for 17 percent while Davao saw 12 percent of the delivered homes. The balance is split equally in Cebu, General Santos and South Luzon.