The real estate arm of DMCI Holdings plans to bring to the domestic real estate market more than P100 billion worth of new residential property inventory this year, a record high for the company, riding on robust demand from local and overseas buyers.
DMCI Homes plans to launch 10 real estate projects worth P104 billion this year, a 271-percent increase from the P28 billion worth of launches last year, parent firm DMCI Holding disclosed to the Philippine Stock Exchange on Tuesday.
All in all, DMCI Holdings expects to launch 19,000 new residential units nationwide this year, higher than the 3,000 units rolled out last year.
This year’s launches will include Kalea Heights, DMCI Homes’ inaugural project in Cebu.
“We believe the DMCI Homes brand can do well in the competitive Cebu market. There’s wider acceptance of condominium living in the area and our projects offer great value for money,” DMCI Homes president Alfredo Austria said.
To finance the project launches, DMCI Homes has earmarked P17.9 billion for capital expenditures this year, up from P14.5 billion last year.
Other developments scheduled for launch this year are: Cameron Residences and The Cresmont in Quezon City; Parama Residences and Sonora Garden Residences in Las Piñas City, and Sovanna Towers and Allegra Garden Place, both in Pasig City.
DMCI Homes is also set to introduce The Camden Place and Sage Residences in Manila and Mandaluyong City, respectively.
In Davao City, DMCI Homes expects to strengthen its presence with the launch of Belleza Towers.
Project funding for DMCI Holdings will come from a mix of internal funds (including cash flows generated from the project) and bank borrowings.
DMCI Homes, which specializes in resort-themed residences, first ventured outside Metro Manila in 2013 with the launch of Outlook Ridge Residences in Baguio City. In 2016, it launched Verdon Parc in Davao City.
The company has been building communities nationwide since 1999. It has launched a total of 73 projects since then.