DMCI ventures into low-cost housing

MANILA, Philippines – Diversified engineering conglomerate DMCI Holdings Inc. plans to venture into the low-cost housing sector as part of its new growth strategy, its top official said.

DMCI chairman Isidro Consunji said the company has “the scale, resources and expertise to deliver quality homes” for low-income and lower middle class families.

Consunji said the housing units would be offered at a price lower than the company’s current product offerings which average about P3.5 million.

“As a new decade begins for our company, we see a reshaping or our growth strategy,” Consunji said.

Apart from the housing project, Consunji said DMCI would also be pursuing more renewable energy projects.

“Our goal is to build an energy portfolio that has an optimum blend of conventional and sustainable energy,” he said.

Consunji said the company was also looking at developing new businesses that would complement and boost existing investments.

“To generate high value projects for our core business, we will strengthen our collaboration with industry leaders through fair pricing and exceptional service,” he said.

DMCI is currently one of the country’s most diversified conglomerates with interests  in power, water, mining, infrastructure, and property.

The group recorded a consolidated net income of P12.8 billion last year, up 19 percent from P10.8 billion the previous year.