REAL ESTATE
Rising in the Ranks: Newport Pacific Development Corp. has broken into the top rank of apartment builders nationally, placing 10th on Builder Magazine’s most recent list, for 1989.
Newport Pacific started 1,998 apartment units last year.
That, combined with 49 single family units the company began, also earned the firm the magazine’s ranking as the country’s 34th largest residential builder overall.
Many local builders are heading for Riverside, San Bernardino and San Diego counties to do their thing, but Newport Pacific Chairman Magdy Hanna said his company did 95% of its work in Orange County last year. Not only that, but, eschewing the fashionable South County, Newport did most of its work--66% of all the units it started--in Anaheim.
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