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Manila Bulletin devider Business devider The Stock Market devider DMCI Homes enters Cebu with P20-billion project

DMCI Homes enters Cebu with P20-billion project

Published Sep 30, 2024 06:03 am

DMCI Homes, the residential developer of DMCI Holdings Inc., is preparing to venture into Cebu City’s booming condominium market, starting with a P20 billion project, as part of its nationwide expansion plan.

In a statement, DMCI Homes Vice President for Project Development Dennis Yap said the firm’s first project in Cebu will be developed on a four-hectare property in Barangay Guadalupe.

“Cebu City’s robust economy and growing demand for quality homes make it an ideal location for our expansion. We’re excited to introduce our signature resort-inspired condominiums to this bustling city and be part of its dynamic development," he said.

With condominium living being highly popular in Cebu, Yap expressed confidence that Cebuanos will appreciate DMCI Homes’ value-for-money offerings.

“The Queen City of the South deserves nothing but the best, and we’re about to deliver just that—our project with the biggest open space to date,” Yap said.

He added that, “We're equally thrilled to introduce Cebu to the distinct DMCI Homes lifestyle, showcasing our proprietary Lumiventt® Design Technology, internet-ready units, and RideShare carpooling service—just some of the innovative features we're bringing to take condominium living to new heights in this vibrant market.”

The firm’s decision to enter the Cebu property market follows the company’s successful ventures in San Juan, Batangas, and Tuba, Benguet for the past year.

Yap noted that while the pandemic had temporarily halted their Cebu expansion, the opportunities in the Queen City of the South made it clear that moving forward with the plan would be the right decision.

“Cebu is a rapidly growing market with great potential. We look forward to making a positive impact and contributing to the city’s growth,” he said.

While DMCI Homes is new to Cebu's property market, its sister firm, DM Consunji, Inc. (DMCI), has made its mark with several landmark projects in the city.

DMCI was part of the Cebu Link Joint Venture, a consortium with Acciona and First Balfour that built the iconic Cebu-Cordova Link Expressway (CCLEX).

Other landmarks built by DMCI in Cebu include SM Cebu, Shangri-La's Mactan Resort and Spa, the Ayala Life Cebu office building, and Ayala Center Cebu.

As the Philippines' first Quadruple A developer, DMCI Homes also aims to make its mark in the city, backed by a sterling track record of completing 72 quality developments across Metro Manila, Laguna, Cavite, Baguio City, Boracay, and Davao City, in its 25 years in the industry.

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