DMCI eyes 20% sales growth

MANILA, Philippines – DMCI Homes, the property development unit of Consunji-led firm DMCI Holdings Inc., is eyeing a 20 percent growth in sales and reservations this year, according to a top company official.

DMCI president Isidro A. Consunji said the company is accelerating product launches this year to take advantage of the flourishing property sector, supported by low interest rates.

“Sales and reservations are forecast to rise 20 percent this year from P17 billion in 2011,” Consunji said.

DMCI Homes has earmarked P13 billion this year for the launch of seven new residential projects equivalent to 5,800 units.

The new projects will be a mix of mid-to high-rise vertical community developments, located in key strategic areas within Metro Manila.

Among these new projects include One Castilla Place in Valencia, Quezon City, Zinnia Towers (located along North Edsa, Quezon City), a high-rise development in another prime Quezon City location along A. Bonifacio Street; Verawood Residences in Acacia Estates, Taguig; Torre de Manila a high-rise development in Taft Avenue in Ermita, Manila and Serissa Residences, a medium-rise community along Alabang-Zapote Road in Las Piñas.

The housing segment contributed P1.245 billion to DMCI Holdings’ total net income in the nine months ending September 2011, up 23 percent from P1.01 billion the previous level.

DMCI Homes registered a 25 percent rise in revenues to P5 billion with sales coming from existing projects - East Raya, Magnolia Place, Mahogany Place 3, Ohana Residences and Rosewood Pointe.

The growth was attributed to higher margins as prices improved slightly owing to good product quality.