DMCI Homes, the real estate arm of conglomerate DMCI Holdings Inc., said it is on track to hit its P38-billion reservation sales target for the whole of 2019 as it plans to launch more projects in the second half of the year.
DMCI Homes president Alfredo Austria said the company booked P20 billion in reservation sales in the first half of the year, boosted by the newly-launched residential condominiums in Quezon City.
“We exceeded our first half target and expect further boost from our second half launches,” said Austria.
The property firm has lined up five more launches in the second half of the year. The projects are in Pasig City, Las Piñas City, Mandaluyong City, Davao City and Cebu City.
Austria said newly-launched residential projects in Quezon City—Cameron Residences and The Crestmont—with total sales value of P10 billion would continue to boost sales.
Cameron Residences is in Roosevelt Avenue while The Crestmont is along Panay Avenue in Barangay South Triangle.
The two projects were launched following the strong take-up of other DMCI Homes developments in Quezon City, namely Infina Towers, The Orabella and The Celandine.
“Quezon City is a strong market because of the ongoing infrastructure projects in the area. Once Skyway Stage 3 and MRT-7 become operational, residents will enjoy unprecedented connectivity and mobility,” Austria said.
Meanwhile, DMCI president Isidro Consunji said the company had been controlling the sale of condominium units to foreigners.
“Our mission is to sell housing units with best value for money for the Filipino families. While we cannot stop foreigners from buying, that is not our objective,” Consunji said.
DMCI Homes saw its first semester net income decline 34 percent from P1.88 billion to P1.23 billion due to the absence of a non-recurring gain.
Excluding the one-time income of P715 million from the sale of land, DMCI Homes increased core net income by 6 percent from P1.16 billion to P1.23 billion.
The company at the start of the year had planned to launch 10 projects worth P104 billion, including its initial venture into the Cebu property market.