DMCI Homes reservation sales up

Consunji-led property developer DMCI Homes grew reservation sales in the first nine months by 7 percent year-on-year to P33.48 billion, citing strong demand for residential condominium units in the metropolis.

This puts the company on track to meeting its P40-billion upgraded sales target for the year, DMCI Homes said.

The reservation sales figure is an indicator of the kind of revenue growth DMCI Homes may expect in the years ahead as pre-sold high-rise residential projects progress in construction.

Cited as a key contributor to the nine-month sales performance was Kai Garden Residences in Mandaluyong City, which posted P8 billion in sales revenue as of Sept. 30.

Other major contributors in the first three quarters are Pasig City projects Fairlane Residences and Prisma Residences, which posted 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.

DMCI Homes reports an increase in its land value to P9 billion from P4.9 billion a year ago, with the acquisition of new landbank 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,” DMCI Homes president Alfredo Austria said in a statement.

DMCI Homes completed this year 10 buildings in various projects. —DORIS DUMLAO-ABADILLA