By James A. Loyola
DMCI Homes, the property development unit of DMCI Holdings, is on track to hit its P38-billion reservation sales target this year after generating P20 billion in the first semester of 2019.
“We exceeded our first half target and expect further boost from our second half launches,” DMCI Homes President Alfredo Austria said in a press briefing.
He added that the company is banking on its newly launched projects in Quezon City — Cameron Residences and The Crestmont — to boost sales.
Cameron Residences is located in Roosevelt Avenue while The Crestmont is along Panay Avenue in Barangay South Triangle.
The two projects were launched following the strong takeup of other DMCI Homes developments in Quezon City, namely, Infina Towers, The Orabella and The Celandine.
“Quezon City is a strong market because of the ongoing infrastructure projects in the area. Once Skyway Stage 3 and MRT-7 become operational, residents will enjoy unprecedented connectivity and mobility,” noted Austria.
Aside from Cameron Residences and The Crestmont, DMCI Homes is planning to launch five more residential condominium projects before the end of the year.
The new projects will rise in Pasig City, Las Piñas City, Mandaluyong City, Davao City and Cebu City.
On a standalone basis, DMCI Homes saw its first semester net income decline 34 percent from P1.88 billion to P1.23 billion due to the absence of non-recurring gain. Excluding one-time income of P715 million from the sale of land, DMCI Homes grew its core net income by 6 percent from P1.16 billion to P1.23 billion.