By James A. Loyola
DMCI Homes, a subsidiary of Diversified engineering firm DMCI Holdings, is launching 10 real estate projects worth P104 billion this year, a 271 percent increase from P28 billion in 2018.
(Photo courtesy of www.dmcihomes.com/)
In a press briefing, the firm said its new projects this year will include Kalea Heights in Cebu, a new market for the company.
“We believe that 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,” said DMCI Homes president Alfredo R. Austria.
The other developments scheduled for launch this year include 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 located in Pasig City.
DMCI Homes is also set to introduce The Camden Place and Sage Residences located in Manila and Mandaluyong City, respectively.The company is also launching Belleza Towers to strengthen its presence in Davao City.
To finance the project launches, DMCI Homes has earmarked P17.9 billion in capital expenditures, up by 23 percent year-on-year from P14.5 billion in 2018.
Project funding will come from a mix of internal funds (including cash flows generated from the project) and bank borrowings.
DMCI Homes first expanded its real estate footprint outside Metro Manila in 2013 with the launch of Outlook Ridge Residences in Baguio City. In 2016, the leading resort-inspired community developer launched Verdon Parc in Davao City.
DMCI Homes has been providing quality homes and resort-inspired communities nationwide since 1999. To date, the company has launched a total of 73 projects.