DMCI Homes land bank’s total value hits P6 billion
DMCI Homes, Inc. said it has expanded its land bank by 41%, with a total land value of P6 billion, as it sees continued demand for its residential projects.
“Despite the fierce competition in our segment, the demand for DMCI Homes properties remains strong so we are building our land bank,” said DMCI Homes President Alfredo R. Austria in a statement.
The Consunji- led developer said as of its last count, its total land bank reached 125.22 hectares, up from 88.89 hectares a year ago. The bulk are newly acquired raw land are in Metro Manila, while the rest are in Luzon.
In the first quarter, DMCI Homes posted sales and reservations worth more than P15 billion, higher by 15% compared with the P13 billion recorded in the same period last year.
Among its top project performers are Prisma Residences located in Pasig City, Infina Towers in Quezon City, and Verdon Parc in Davao City.
“We had an excellent run last year. We topped our reservation sales target by more than 153%. Hopefully, we can sustain our growth with our new product offerings,” Mr. Austria said.
One of the factors behind DMCI Homes’ robust performance is the demand from the Chinese market, which has cornered about P6 billion of the P21-billion sales and reservations as of April this year, Mr. Austria earlier said.
For this year, DMCI Homes will be launching eight high-rise projects in Davao City, Las Piñas, Manila, Parañaque, Pasay, Pasig and Quezon City. The projects will have an expected sales value of P49 billion or 53% more than the P32 billion sales value of the three developments launched last year.
In 2017, DMCI Homes exceeded its sales target for the year by 153% as it recorded P38.9 billion in sales and reservations.
It attributed the “stellar performance” to the double- digit growth in the number of residential and parking units sold during the period. The company sold 9,360 units last year, up 14%.
Of the total sales and reservations last year, about 76% are from high-rise projects while 23% are from mid-rise developments. High-rise projected contributed 66% of sales while mid-rise and horizontal projects accounted for 33% and 1%, respectively.
Many of DMCI Homes’ projects cater to the middle-class, upscale Filipino market, including those with preference for units in low-rise residential projects. —