DMCI Homes on track to meet P40 billion sales target

MANILA, Philippines — DMCI Homes, the quadriple A developer of the Consunji Group, expects to beat its P40 billion adjusted sales target for the year, driven by strong demand for its various projects in the first nine months.

In a disclosure to the Philippine Stock Exchange (PSE), DMCI Homes said reservartion sales went up seven percent to P33.48 billion in the first three quarters of this year.

The strong sales performance of key projects puts the company on track to meet its P40 billion adjusted sales target for the year, DMCI Homes president Alfredo Austria said.

Austria said a number of new projects enjoyed brisk demand.

One key contributor was Kai Garden Residences in Mandaluyong City which posted P8 billion in total sales revenue as of Sept. 30. 

Other top contributors during the period were DMCI Homes’ Pasig City projects such as Fairlane Residences and Prisma Residences.

The two projects earned P7.26 billion and P3.18 billion in sales and reservations, respectively.

This year, DMCI Homes launched three new residential projects, namely Fairlane Residences, The Atherton in Parañaque City and Satori Residences in Pasig City.

With the strong sales, DMCI Homes has increased its land bank value to P9 billion from P4.9 billion.  This includes new acquisitions in Visayas and Mindanao.

“This is part of the company’s plan to expand outside Metro Manila which started with Outlook Ridge Residences in Baguio City and Verdon Parc in Davao City. We are also hoping to help address the housing needs in other key cities like Cebu in the near future,” he said.

This year, DMCI Homes has already completed 10 buildings in various projects namely Bristle Ridge in Baguio City, Brio Tower in Makati City, Asteria Residences in Parañaque City, Mirea Residences and Lumiere Residences in Pasig City and Ivorywood in Taguig.

Since it commenced operations in 1999, DMCI Homes already launched a total of 72 projects.