Developer eyes more condo projects in Metro Manila, Davao

DMCI Homes, the country’s first Quadruple A developer, is eyeing more residential condo projects in and outside of Metro Manila in 2018 after posting a banner year in sales and reservation in 2017.

Strong sales of all its ongoing developments last year helped the developer record PhP38.9 billion in sales and reservations – 53 percent higher than its target of PhP25.5 billion for 2017.

For this year, the property arm of DMCI Holdings Inc. has lined up mid-rise and high-rise developments in Parañaque, Las Piñas, Pasig, Pasay, Manila and Quezon City.

Eight residential condo projects have been penciled in for launch in 2018.

“We’re looking at new product formats that would suit the evolving needs and preferences of the market but still consistent with our valuefor-money proposition,” said DMCI Homes President Alfredo Austria.

The developer known for building resort-inspired communities is also eyeing another residential condo project in Davao City following the consistent strong sales recorded by its initial offering in the King City of the South, Verdon Parc.

The company is bullish on Davao City’s real estate sector following positive forecasts on residential projects in urban areas all over the country for 2018.

In its top 10 predictions for 2018, global real estate services company Colliers Philippines said the government’s aggressive infrastructure push would further drive the demand for residential projects in major urban areas in Luzon, Visayas and Mindanao.

“The improvement of road networks and expansion of airports should further unlock land values in these areas, making them more feasible for residential projects,” the global real estate services company said.