DMCI Homes posts higher sales in Q3

MANILA, Philippines — DMCI Homes, the quadruple A developer of DMCI Holdings,  posted strong sales in the third quarter  following the launch of two transit-oriented projects – the Fortis Residences in Makati and Sage Residences in Mandaluyong City.

From July to September, DMCI Homes more than doubled its sales and reservations to 2,610 units or an increase of 159 percent, which included 1,473 residential units and 1,137 parking slots.

Average unit selling price of DMCI Homes increased with the launch of Fortis Residences in July, which featured larger-cut units, ranging from 72.5 square meters to over 152 square meters, with list price ranging from P18 million to P38.6 million.

DMCI Homes recorded a 25 percent jump in third quarter net income to P1.15 billion, owing to higher selling prices and other income.

Nine-month net income, however, dipped by two percent to P3.9 billion on lower construction accomplishments, less new accounts that qualified for revenue recognition and sales cancellations.

For 2023, the company expects reservation sales to reach P37 billion, higher than the P25 billion targeted for 2022.

DMCI Homes president Alfredo Austria said Fortis Residences is from the company’s high-end segment, DMCI Homes Exclusive.

“Fortis Residences is particularly exceptional because it will be part of Makati’s next commerce, culture, and recreation hub through the city’s redevelopment plan, called Makati Southwest Gateway,” he said.

It will be part of a mixed-use community which will include other components such as office and retail.

“We’re also building an adjacent building that will include office, retail and commercial spaces called One Fortis Plaza, so residents can have easy access to shops, restaurants or even work,” Austria said.

Transit-oriented developments feature walkable mixed-use communities near high-quality train systems.