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Manila Bulletin devider Business devider DMCI beefs up presence in Cebu

DMCI beefs up presence in Cebu

Published Oct 20, 2019 12:00 am
By James A. Loyola MACTAN, Cebu – DMCI Holdings, Inc. is beefing up its investments in Cebu as it banks on the government’s Build, Build, Build program to boost business activity, particularly for the construction and real estate sectors. Isidro A. Consunji (Source: https://www.dmciholdings.com/) Isidro A. Consunji (Source: https://www.dmciholdings.com/) In a media briefing, DMCI Chairman Isidro A. Consunji said residential developer DMCI Homes has acquired two properties in Cebu which it will develop into their signature high-rise residential communities which has been well-received in Metro Manila. DMCI Homes President Alfredo Austria said they have acquired a 9,695 square meter property in Lahug, Cebu City to boost its expansion plans. The property is a few minutes’ drive from Cebu IT Park, Cebu Business Park, University of the Philippines Cebu and Metro Sports Center. Last year, DMCI Homes acquired its first Cebu property in Brgy. Guadalupe, which will serve as the future site of another residential community. With these two acquisitions, DMCI Homes now has a total Cebu landbank of 55,617 square meters. “Cebu is one of the fastest growing economies in the Philippines. Expanding here is a natural step for us,” said Austria. Consunji said that, with the scarcity of skilled labor in Metro Manila limiting their growth, they are now starting to look for opportunities in the provinces. Austria said the plan to launch two projects next year for the two properties with the first being a four-hectare high rise project. He explained that, while the buildings will be high-rise, it will be unique because of the large open spaces that will be set aside. “Each hectare will have only one tower for a total of only four towers in four hectares,” said Austria adding that they have the option to expand this project by another four hectares. “We are very excited to bring the DMCI Homes brand to Cebu. We believe the discerning local market will find our value-for-money proposition very attractive,” added Austria. Meanwhile,Cebu Link Joint Venture, the consortium of Acciona, First Balfour and D.M. Consunji, Inc. (DMCI), has invested 5.3 million man-hours to build 47 percent of the Cebu-Cordova Link Expressway (CCLEX), a toll bridge that will connect mainland Cebu from Cebu City to Cordova town in Mactan Island. “The design, scale and complexity of this project makes it an engineering and construction marvel. We are proud to be part of this iconic project,” said DMCI President and CEO Jorge A. Consunji. At 8.25 kilometers, the infrastructure will be the longest bridge connecting two islands in the Philippines.
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