DMCI Homes, the property unit of DMCI Holdings Inc., said it is on track to reach its P40-billion reservation sales target this year on strong demand for residential projects.
DMCI Homes president Alfredo Austria said reservation sales in the first nine months of the year had already reached P33.48 billion, up seven percent from P31.34 billion year-on-year.
“Consistent strong sales performance of key projects put the company on track to meet its P40 billion adjusted sales target for the year,” Austria said.
He said one key contributor was Kai Garden Residences in Mandaluyong City, which posted P8 billion in total sales revenue as of September 30.
Other top contributors in the first three quarters were Pasig City projects Fairlane Residences and Prisma Residences, which registered P7.26 billion and P3.18 billion in sales and reservations, respectively.
DMCI Homes this year launched three new residential projects, namely Fairlane Residences, The Atherton in Parañaque City and Satori Residences in Pasig City.
DMCI Homes, meanwhile, increased its total land value to P9 billion from P4.9 billion a year, including new acquisitions in Visayas and Mindanao.
“This is part of the company’s plan to expand outside Metro Manila which started with Outlook Ridge Residences in Baguio City and Verdon Parc in Davao City,” Austria said.
“We are also hoping to help address the housing needs in other key cities like Cebu in the near future,” he added.
The company plans to launch two projects in Cebu—an eight-hectare lot development in Cebu City and a 6,000-square meter lot in Lahug by mid next year.
DMCI Homes is also launching its second residential project in Davao City.
The company to date has launched a total of 72 projects.
DMCI Homes plans to launch its first socialized housing project next year. Austria said the company plans to provide affordable unit projects to workers in Calaca, Batangas for the first project.
Austria said the units might sell at less than half a million pesos each.