DMCI Homes to foray into socialized housing

MANILA -- Consunjiled property developer DMCI Homes is looking to build its first socialized housing project in Batangas.

The company’s maiden foray into this segment aims to help address the housing backlog in the country.

“We planned to go into socialized housing. We feel that it is part of our CSR (corporate social responsibility) to provide a very good housing for the lower income, so that’s the main motivation,” DMCI Homes President Alfredo Austria told reporters on Tuesday.

Austria said the company is on the lookout for potential land purchase opportunities, most likely in Cavite, Laguna and Bulacan.

“We are currently studying several sites (for socialized housing),” he said. “We have specific studies on several areas.”

Austria noted it has earmarked P15.6 billion capital expenditures this year for land acquisition, project development and new properties.

He bared the firm is gearing up for the construction of its first socialized housing project in Calaca, Batangas depending on when it is able to secure housing permits.

“The industries, population and income of people there are growing. So it makes sense. The subsidiary company has some land there that is available,” he added.

Austria said it aims to develop socialized housing projects through joint ventures with other developers.

This year, DMCI Homes also plans to launch eight high-rise projects in Davao City, Las Pinas, Manila, Paranaque, Pasay, Pasig and Quezon City.

The projects will have an expected sales value of P49 billion, or 53 percent more than the P32 billion sales value of the three developments launched last year.