DMCI Homes’ sales up 25%

CONSUNJI-led DMCI Homes sold 25 percent more residential units in the first semester than in the same period last year, mostly reflecting the industry-wide rebound in sales take-up of high-rise condominium units in Metro Manila.

In a press statement on Friday, the real estate arm of engineering conglomerate DMCI Homes said it had sold 3,753 residential units in sales and reservations in the first half compared to 3,011 units the previous year. About 55 percent of the reservation sales posted by DMCI Homes came from high-rise projects in Metro Manila.

The double-digit growth jacked up total reservation sales of DMCI Homes by 39 percent year-on-year to P13.5 billion. Sales take-up is an indicator of future revenue growth for property companies.

Residential projects Lumiere Residences, Sheridan Towers, Brixton Place and newly-launched developments Alea Residences and Verdon Parc accounted for nearly half of the sales and reservations.

DMCI Homes’ sales numbers affirm the turnaround in industry-wide pre-selling of high-rise condominium units in Metro Manila from the contraction seen last year. Based on estimates by property consulting firm Colliers Philippines, the take-up of condominium units offered under pre-selling arrangements in Metro Manila increased by 23 percent year-on-year in the second quarter. For the first half, pre-selling of units in the metropolis increased by 5 percent to around 17,500 units.

For DMCI Homes, demand for parking units also grew by 26 percent to 2,106 in the first semester.