Consunji-led property developer DMCI Homes expects to deliver to the property market about P9.4 billion worth of residential units in 11 nearly sold-out condominium buildings in the metropolis this year.
This will bring to Metro Manila about 2,830 new ready for occupancy (RFO) residential condominium units in these 11 buildings. Two of the buildings will be delivered to buyers one year ahead of schedule.
“More than having consistent strong sales, we pride ourselves on always striving to exceed the expectations of our clients. This includes the delivery of their units ahead of schedule most of the time,” DMCI Homes president Alfredo Austria said in a statement.
Of these RFO units scheduled for completion this year, 2,796 or 98.8 percent have been sold as of Feb 8. The value of these RFO units already taken up by the market is P9.27 billion.
Based on estimates by property consulting firm Colliers, fresh residential condominium supply in Metro Manila in 2018 would reach a record-level of 27,200 units, over three times higher than the 7,500 annual average in the last five years. The delays in completion from 2017 have shifted a sizeable number of units to delivery this 2018, Colliers said.
DMCI Homes’ delivery of the 11 buildings will mark the completion of three ongoing residential condominium projects: Brio Tower, Asteria Residences and Mirea Residences.
Brio Tower, DMCI Homes’ first project in Makati, is set for turnover in October, ahead of its original RFO schedule of November 2019.
The last two buildings of Asteria Residences—a midrise development in San Pedro Street, San Antonio Valley 2, Barangay San Isidro, Sucat, Parañaque City—are also slated for turnover this year. The buildings will be made available to unit owners in March and June, respectively.
The remaining four towers of the eight-building midrise development Mirea Residences on Amang Rodriquez Avenue, Barangay Santolan, Pasig City are also set for turnover until September this year.
Also up for occupancy in 2018 is the seven-building midrise development Ivory Wood in Acacia Estates, Taguig with the early RFO of the first three buildings: Anahaw in January, Palmira in April, and Lauan in July.