DMCI Homes boosts growth prospects via tieup with BDO Capital

MANILA, Philippines - DMCI Homes, today’s leading resort-inspired residential communities, is sustaining its winning form into 2011 by formalizing a tie-up with BDO Capital and Investments Corp., an umbrella group of ancillary banks and financial institutions, which will pave the way for the builder/developer’s unprecedented growth as a major player in the Philippine real estate industry.

With bullish plans of expanding its construction projects and land acquisition initiatives, DMCI Homes is aiming to work with BDO Capital to accomplish goals for growth prospects. 

Joseph Ramil Lombos, DMCI Homes director for finance and operations, explained that at the onset, DMCI Homes was initially targeting P5 billion to raise from the corporate notes facility as allocation for land acquisition, project construction developments, and other general corporate requirements in 2011. Eventually through fund sourcing, DMCI Homes came out being oversubscribed at P10 billion.

“In itself, we already considered the feat as a milestone for the company, despite the presence of bigger real estate companies in the Philippines,” Lombos said. “Banks and financial institutions are now regarding DMCI Homes as one of the big real estate companies.”

The agreement with BDO Capital is also being considered by DMCI Homes as “a vote of confidence” for the company. “DMCI is known as the country’s leading construction and development industry for than 50 years. As such, we feel that it is a good way for DMCI Homes to be known more as a real estate company. Coupled with new projects we’ll soon be introducing to the market and close monitoring of major infrastructure projects, there’s no way we’d have difficulty attaining our goal of becoming one of the top real estate companies in the country today.”

For 2011, Lombos shared that the company is planning to continue land acquisition to add to its existing properties then start off project launch in last quarter of 2011-2012.

In all this, however, Lombos noted they are also looking at the market with caution. “We’d like to manage where we are going so we’re looking at a faster turnaround for the properties, to develop them as fast as we can and translate to market sales right away.

For now, DMCI Homes will still focus on what it does best – building medium-rise developments which constitute 70 percent of its projects. The triple A builder-developer has established its expertise in this segment, offering bigger condo units with livable spaces along with other advantages such as resort-style amenities, first-rate quality finishes and building provisions, an efficient property management office, plus real value-worthy financing schemes for condo homes.

With the eventual shift to high-rise developments, the same trademark advantages started by DMCI Homes for its mid-rise projects will be sustained, Lombos said. He cited as an example current projects like La Verti Residences in the Pasay-Taft-Manila area which will offer a high-rise condo built amidst lots of space and greenery.