DMCI Homes to launch 10 projects worth P104 billion

MANILA, Philippines — DMCI Homes, a quadruple A developer, plans to launch 10 real estate projects worth P104 billion this year.

To finance the project launches, the company is earmarking P17.9 billion in capital expenditures, up 23 percent year on year.

Project funding will come from a mix of internal funds (including cash flows generated from the project) and bank borrowings.

The expected P104 billion in sales this year is 271 percent higher than the P28 billion recorded a year ago.

DMCI Homes president Alfredo Austria said the company is making its foray in Cebu through Kalea Heights.

“We believe that the DMCI Homes brand can do well in the competitive Cebu market. There’s wider acceptance of condominium living in the area and our projects offer great value for money,” Austria said.

Other developments scheduled for launch this year include Cameron Residences and The Cresmont in Quezon City, Parama Residences and Sonora Garden Residences in Las Piñas City, and Sovanna Towers and Allegra Garden Place, both located in Pasig City. 

Aside from these projects, DMCI Homes will bring the brand to more locations in Manila and Mandaluyong City through The Camden Place and Sage Residences.

The company is also launching Belleza Towers to strengthen its presence in Davao City.

DMCI Homes first expanded outside Metro Manila in 2013 with the launch of Outlook Ridge Residences in Baguio City. In 2016, the leading resort-inspired community developer launched Verdon Parc in Davao City.

The company has been providing quality homes and resort-inspired communities nationwide since 1999.  To date, the company has launched a total of 73 projects.

It is one of the companies under listed engineering conglomerate DMCI Holdings Inc., which posted a net income of P14.5 billion last year or an increase of two percent.

Core net income, however, declined four percent to P14.5 billion.

In the fourth quarter alone, DMCI Holdings posted a net profit of P3 billion, largely unchanged from P3.1 billion a year ago.

Aside from real estate, DMCI Holdings’ other businesses are construction, off-grid power, mining, water businesses and mining.