BOI okays bid of DMCI mass housing unit

The Board of Investments (BOI) has approved the application for registration of DMCI Project Developers Inc. as a new developer of mass housing.

DMCI Project Developers Inc.’s first project will be a 252 unit, low cost housing along the East Service Road, Merville, Parañaque City, to be known as the Raya Garden Condominiums.

BOI registration will entitle DMCI Project Developers Inc. to fiscal incentives such as income tax holiday and duty-free importation of capital equipment.

DMCI Project Developers Inc. is 100 percent owned by DMCI Holdings.

DMCI Holdings is part of the Consunji Group which includes the mother construction firm D.M. Consunji Inc. and realty arm DMCI Homes.

D.M. Consunji Inc., along with its international construction subsidiary Atlantic Gulf and Pacific Co. (AG&P) was a major construction firm in the 1980s and 1990s at the height of the real estate and construction boom.

However, when the real estate and construction activity subsided in 2000, DMCI Homes, the realty arm of the Consunji Group, was created to cater to the mid-market real estate sector.

DMCI Homes’ various developments include residential subsidivisions as well a medium-rise condominiums, mostly within Metro Manila with first-class finish and resort-like amenities and reasonable price range.

DMCI Homes’ condominium units typically range from P1.2 million to P2 million for a 48-square meter, two-bedroom unit.

Aside from real estate and construction, DMCI Holdings has expanded its investments to include coal mining and utilities.

DMCI Holdings participated in the bidding for Maynilad and was recently announced the winner.