DMCI Homes, the real estate arm of conglomerate DMCI Holdings Inc., earmarked nearly P12 billion for 2017 capital expenditures, as it plans to remain aggressive with new projects this year.
DMCI said it would spend P8.4 billion for project development and another P3 billion for land acquisition this year. The remainder will go to existing buildings and improvements.
The property firm said it aimed to launch eight projects with over 15,300 units this year. Total sales value of these residential projects is expected to reach P57 billion.
“Every year, we strive to come up with exciting projects for our valued clients. This is in line with our goal to satisfy the changing needs and preferences of the market,” DMCI Homes president Alfredo Austria said.
“We hope that our new projects further reaffirm our reputation as a builder of high-quality, best value homes and resort-inspired communities that promote quality lifestyle among Filipinos,” he said.
DMCI Homes launched two residential projects in the first quarter this year, including the Prisma Residences in Pasig City and Mulberry Place in Taguig City.
Scheduled to be launched in the second and third quarter of the year are six projects including hybrid developments, high-rise towers and amixed-used facility offering residential and office units.
The upcoming projects are located in Mandaluyong, Makati, Pasig, Paranaque and Quezon City.
DMCI Homes senior vice president for sales Florante Ofrecio said the property firm remained bullish on the residential market as it already booked P13 billion in reservation sales from December 2016 to February 2017.
The P13-billion reservation sales already represented half of the P26-billion target reservations sales for the year.