Laing Luxury adds custom builder to its porfolio

Despite the fallout on the production homebuilding business, many custom builders are still well in the black -- so much so that John Laing Homes has expanded into custom homebuilding through its Luxury division. From a BigBuilderOnline.com article:

The new business, called Custom Residences, falls within the realm of the company's Laing Luxury division and has a footprint limited to the coastal areas of California in Orange County and northern San Diego County...

The launch, while a move to generate revenue during the slow market, also reflects a push from parent company Emaar Properties to diversify the luxury brand...

People often approached the semi-custom luxury division, requesting a custom home. But the high-velocity times of old prevented the division from pursuing it; semi-custom buyers were too plentiful and production schedules too taxed to add a custom building component to the business...

Because there's overlap between the custom and semi-custom businesses--the two share design, building, and trade partners--the company gains access to additional revenue streams without adding operational costs while buyers get a turn-key custom home experience.

And these days, corporate has a tight focus on streamlining the company. Recently, executive management restructured some of its divisions, consolidating divisions in California and Colorado. According to company sources, operations in the Central Valley, Sacramento, and the San Francisco Bay Area have been combined under the Northern California division mantle while four divisions--Inland Empire, Los Angeles-Ventura, Orange County, and San Diego--have been consolidated into a single Southern California division.

On the East Coast, Hamptons Luxury Homes is also sailing through the current downturn based on some strategic shifts instituted in 2007. From a press release I received:

Hamptons Luxury Homes, Inc. (OTCBB:HLXH), a construction services company that builds and renovates multi-million dollar estate homes in the Hamptons area of Long Island, New York, reported another quarter of revenue growth and profitability, marking the fifth consecutive profitable quarter for the company during a period when many within the industry have encountered difficult times...

Frank Dalene, Vice President and Chief Financial Officer of Hamptons Luxury Homes, said: “We continue to see our results reflect the success of initiatives that we put in place last year to grow our business. The increase in our contract and service revenues for this quarter was due to an increase in construction activity for the period as a direct result of our increased sales and marketing efforts...

Hamptons Luxury Homes, Inc. (www.hlxhomes.com) is a regional construction services company that builds and maintains custom homes, luxury vacation homes and ultra-luxury estate homes throughout the eastern end of Long Island, New York, with its principal offices located in Bridgehampton, New York. The Company’s wholly owned subsidiary, Telemark Inc. is a nationally recognized and award winning ultra-luxury homebuilder. The Company maintains an industry leading reputation for construction of luxury vacation homes from foundation to completion, with values ranging up to $60 million.