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Tuesday, February 27, 2024

DMCI Homes expands land bank by 49%

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Leading mid-segment developer DMCI Homes reported a 49-percent increase in its land banking program in Luzon to 96.9 hectares from 65.1 hectares after acquiring properties in Batangas, Bulacan, Laguna and Pampanga. 

DMCI Homes said with the expanded land bank, it plans to develop new formats such as leisure, condotel and township projects.

“We recognized a demand for leisure properties and saw it as an opportunity to expand our product line. By offering quality and best value in this market, we hope to duplicate the success of our core residential line,” said DMCI Homes president Alfredo Austria.

Scheduled for launch this June, Solmera Coast is an Asian tropical-inspired condotel project in San Juan, Batangas under the DMCI Homes Leisure Residences sub-brand.

Under the condotel format, the condominium units will be owned by individual investors, who will then rent out their units to guests through DMCI Homes Leisure Residences.

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The business model allows the company to generate revenues from both the sale and rental of the units. Buyers, in turn, can use the unit as a vacation home and receive a share in the rental revenue, which can help offset the cost of ownership.

“DMCI Homes Leisure Residences is for buyers who want to invest in premium properties that provide one-of-a-kind experiences and attractive returns,” Austria said.

Aside from Solmera Coast, the leisure sub-brand will include a Japanese-inspired nature park in Laguna and a mountain resort in Benguet.

DMCI Homes earmarked P18.6 billion for 2023 project development and land acquisitions, an 18-percent upturn from P15.8 billion the prior year.

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