Belle Corporation is allotting P800 million for capital expenditures (capex) for 2009 as it prepares to launch three property projects which are seen to boost its revenues by 20 percent this year.

In an interview, Belle vice chairman Willy Ocier said their capex for the year is almost the same as 2008 noting that leisure projects are relatively immune to the global crisis since they do not depend on the overseas Filipino workers market.

Ocier said sales is expected to rise 20 percent this year from about P1 billion generated in 2008 despite the ongoing global financial crisis and its feared impact on the local real estate sector.

“We remain optimistic about our prospects this year but are conscious of developments in the foreign markets,” he said adding that they have very few cancellations on reservations since the crisis began, “maybe just 2 percent.” Belle has just launched its latest project, the Japanese-themed Katsura at Tagaytay Highlands which is the sixth residential cluster in its Lakeside Fairways worth roughly P870 million.