DMCI Homes, the residential development arm of conglomerate DMCI Holdings Inc., said it ventured into office development in Makati City and launched its first residential projects in Davao City.
DMCI Homes president Alfredo Ramos said in an interview the company would develop the former site of Federal Hardware along Pasong Tamo Extension in Makati City into a two tower residential and office development.
Under the plan, the 28-story office project will have 35,000 square meters of leasing space.
The project marks DMCI Homes’ entry into office leasing space after being one of the leading property developer in the mid-segment sector of the residential industry.
The residential component of the project will offer 900 units targeting the middle-income market. The whole development is slated for completion in five years.
DMCI Homes also launched its first residential development in Mindanao called Verdon Park in Davao City in June.
The two-hectare property owned by DMCI’s parent firm will be developed into a three-tower residential project with a total of 1,900 units.
Austria said at P3 million per unit, the Davao project was expected to raise as much as P6 billion in sales.
Austria said the company would launch five new projects in Makati, Parañaque and Quezon City in the second half.
Meanwhile, construction unit D.M. Consunji Inc. secured P4.4 billion worth of new contracts in the first six months, bringing its total order book to P27.9 billion.
Among its newly signed projects are Spectrum BPO building, City Gate of Ayala Land Inc., a 50-million-liter water reservoir in Quezon City and a gas turbine plant in Batangas.
The construction firm expects more construction projects to come from the public sector amid the plans of the Duterte administration to increase infrastructure spending to 6 percent of gross domestic product.
“We believe DMCI is well positioned to assist in the infrastructure renewal plan of the Duterte administration because of our track record in implementing complex and large scale projects,” D.M Consunji president Jorge Consunji said.
Among its ongoing projects are Metro Manila Skyway Stage 3, civil works of the LRT 2 Line East and several high-rise buildings.
