DMCI Homes expands land bank to 150 has

MANILA, Philippines — DMCI Homes, the property developer of Consunji-owned DMCI Holdings Inc.,  has expanded its land bank to support its expansion nationwide.

The quadruple A developer has expanded its land bank to 150 hectares as of March 31 from 125 hectares in March 2018. 

DMCI Homes president Alfredo Austria said the company needs to sustain its land bank to support growth.

“We have to continue building our land bank as we continue to strengthen our presence in and outside Metro Manila, such as in Davao and Cebu,” he said.

At present, DMCI Homes has a total land value of P10.2 billion, up 71 percent from the previous year.

For this year alone, DMCI Homes is eyeing to launch 10 projects worth P104 billion, including its initial venture into the Cebu property market. 

New projects will likewise rise  in Quezon City, Las Piñas City, Pasig City, Mandaluyong City and the City of Manila. Outside Luzon, it also has projects lined up in Davao.

The company is set to deliver two new condominiums before yearend after completing six other residential structures early this year.

Set for turnover in the second half are the Surya and Raja buildings of Alea Residences – the company’s pioneering mid-rise condominium development in Bacoor City.

DMCI Homes already completed six other buildings in the first four months of 2019. These include Zebrina building of Calathea Place in Parañaque City; Bluebird building of Bristle Ridge in Baguio City; Fairway Terraces in Pasay City; and Alea Residences’ Darma building.

Likewise completed are the Linden building of Maple Place and the Abaca building of Ivory Wood, which are both located in Acacia Estates, Taguig City.

DMCI Homes reported a five percent increase in net income to P481 million.

The company expects to sustain its growth momentum given the steady demand for projects across the country.