DMCI Homes hits 2017 sales target early

Coron, Palawan , Philippines  – DMCI Homes Inc., the residential development arm of Consunji-led DMCI Holdings Inc., has already hit its full-year sales target of P25.5 billion in just seven months.

“We were looking at posting P25.5 billion in sales this year. We’ve already reached that from December 2016 to June this year, “ DMCI Homes president Alfredo Austria told reporters.

The company’s financial year starts on Dec. 1.

DMCI Homes earlier disclosed that reservation sales for the first three months of the year reached P13.1 billion, more than double the P6 billion registered in the same period last year.

Austria attributed the robust sales to better brand recognition in the market.

He said the firm has been seeing “surprising” sales from projects it was not optimistic about in the beginning. An example is The Celandine project in A. Bonifacio, Balintawak in Quezon City.

Austria said the company is also seeing strong sales from its projects outside of Metro Manila, particularly in Davao and Baguio.

The company’s two projects in Baguio are already sold out, he said.

Austria said the company would be changing its accounting standard this quarter to comply with a Securities and Exchange Commission directive.