DMCI Homes set to launch 8 projects this year
DMCI Homes expects to launch eight projects this year and spend more than P11 billion of the P46.54 billion capital expenditure allocated to it by parent DMCI Holdings.
In a statement on Tuesday, ment of the eight projects, but the DMCI Homes, the property arm spending will be spread over two of DMCI Holdings, said it will to three years until the projects are spend P8.4 billion for project completed. These projects are set development this year while the to deliver 15,300 additional housremaining P3 billion will be used ing units, which are expected to for land acquisition. generate about P57 billion in sales.
Consunji-led DMCI Holdings “Ëvery year, we strive to come up allocated capital expenditure of with exciting projects for our valP46.54 billion to DMCI Homes ued clients. This is in line with our this year for the overall develop- goal to satisfy the changing needs and preferences of the market,” DMCI Homes President Alfredo Austria said.
“We hope our new projects fur builder of high quality, best value homes and resort-inspired communities that promote quality lifestyle among Filipinos,” he added.
the company has launched two of the eight projects in the pipeline, which are Prisma Residences in Pasig City and Mulberry Place in Taguig City.
The balance of six project launches this year include hybrid developments, high-rise towers, and a mixed- use tower located in Mandaluyong, Makati, Pasig, Paranaque, and Quezon City.
DMCI Holdings has committed P57 billion in outlays for 2017, most of it going to DMCI Homes, with the balance intended to support the opening and operations of new mining sites of subsidiary Semirara Mining and Power Corp. as well as the capital requirements of its business units.
DMCI Holdings holds the Consunjis’ businesses and investments in construction (DM Consunji), power and mining (DMCI Power Inc., Semirara Mining and Power Corp., DMCI Mining), property development (DMCI Homes, DMCI Project Developers Inc.), and water utilities (Maynilad Water Services Inc.)