CEBU CITY, Philippines — Consunji-owned DMCI Homes is making its foray in the Queen City of the South after successfully expanding in other key cities outside Metro Manila.
In a press briefing here Friday night, DMCI Holdings Inc. chairman Isidro Consunji said their group is now ready to expand in Cebu after successfully penetrating the residential business in Baguio and Davao.
“We practiced going outside Metro Manila five years ago. We went to Baguio and then in Davao so we were able to develop expertise outside Metro Manila so last year, we decided to acquire a property here,” Consunji said.
DMCI Homes president Alfredo Austria said the company is hitching a ride on the strong economic growth of Cebu.
“Cebu is one of the fastest growing economies in the Philippines. Expanding here is a natural step for us,” Austria said.
He said DMCI Homes s very excited to bring the DMCI brand to the province.
“We believe the discerning local market will find our value-for-money proposition very attractive,” he said.
DMCI Homes will have two residential projects, its maiden project in Barangay Guadalupe and another residential project in Lahug, Cebu City. The company is targeting to launch the two projects next year.
Last year, DMCI Homes acquired its first Cebu property in Barangay Guadalupe. DMCI Homes then recently acquired a 9,695 square meter property in Lahug for the second project. This particular property is a few minutes’ drive from Cebu IT Park, Cebu Business Park, University of the Philippines Cebu and Metro Sports Center.
With these two acquisitions, DMCI Homes now has a total Cebu landbank of 55,617 square meters.
Similar to its projects in other parts of the country, the two upcoming developments will be vertical communities that will bear the company’s hallmarks of innovative design and engineering coupled with resort-inspired amenities such as lush landscaping and spacious recreational facilities.
Moving forward, Consunji said DMCI Homes would also be expanding in other fast growing cities outside Metro Manila such as Iloilo.
“We are now at a stage of replicating the product. I think that what we’ve developed in DMCI Homes can be replicated in several markets in the country,” Consunji said.