DMCI Homes sets P16-B kitty for new builds
Consunji-led developer DMCI Homes is earmarking around P16 billion in capital outlays this year mainly to launch up to five more projects as the property giant beefs up its portfolio within Metro Manila’s central business districts (CBDs).
Speaking to reporters last week, DMCI Homes president Alfredo Austria said their new projects would be a mix of residential and leisure buildings, including one leisure project set to be launched within the next two months.
“We continue to be optimistic because we had good sales in the first quarter of this year,” Austria said. “We’re currently assessing the market condition and we’re still very confident that we can provide good value.”
DMCI Homes, which is among the largest property developers in the Philippines, currently has at least 30 residential and leisure projects across Metro Manila catering to middle and upper-middle class segments.
While the company is focused on its growth within the capital region, Austria explained that they were also looking at expanding to Northern Luzon. He did not disclose further details.
DMCI Homes last week launched the 55-story The Valeron Tower, a joint venture with Japanese conglomerate Marubeni Corp. set to rise along C-5 (Circumferential Road 5) and within the thriving Ortigas Center in Pasig City.
Austria said they were investing P15 billion into the project that was seen to generate P22 billion in revenues.
The Valeron Tower will be composed of 1,900 units and is “competitively priced,” starting from P7.62 million per unit.
Construction for the project started about a month and a half ago, according to Austria, with completion expected by July 2029.
DMCI Homes in 2023 accounted for P4.6 billion in the earnings of parent firm DMCI Holdings. INQ
