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Friday, March 29, 2024

DMCI Homes defended

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The Philippine Chamber of Commerce and Industry, the country’s largest business organization, defended beleaguered property developers that have invested heavily on property projects, citing the case of DMCI Homes Inc.

The group said Friday construction of buildings and other projects that had complied with all the requirements of the National Building Code and obtained building permits from local government officials should be allowed by government to be completed.

The PCCI said in a statement stopping or restraining construction of legitimate projects midway was a serious disincentive to investments.

“DMCI locked in investments for the long term in its Torre de Manila project confident that compliance with the law was a rock-solid assurance that it would complete its project,” said PCCI. 

It said the restraining order eroded the confidence of existing and future investors on the safety of their investments in the country.

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