DMCI Homes hits P25.5-B sales target for 2017 in just 7 months

Published June 7, 2017, 10:01 PM

http://business.mb.com.ph/2017/06/07/dmci-homes-hits-p25-5-b-sales-target-for-2017-in-just-7-months/

DMCI Homes, the residential development arm of diversified engineering conglomerate DMCI Holdings Inc., is set to hit its year-end reservation sales target of P25.5 billion by this month — five months ahead of schedule.

In an interview, DMCI Homes President Alfredo Austria said they will hit the 12 months target in just seven months, explaining that they start counting from December to June.

Austria attributed the strong sales to the take up of units in new projects they launched recently. The biggest contributors are their high-rise projects in the Pasig and Mandaluyong areas.

He also noted that they are now feeling the impact of DMCI’s growing reputation as a residential developer and more satisfied buyers are now giving referrals.

DMCI Holdings Chairman Isidro A. Consunji also noted that there were some projects that gave them “unexpected surprises” such as the one in Balintawak, Quezon City where demand suddenly rose when a connector road was made nearby while another developer built a mall in the area.

“It seems that non-traditional areas for condos are the ones that are selling very well. It may also be because of the limited choices because of the scarcity of land,” he said.

Despite the expectation of breaching the 25.5 billion target, Austria said they are not yet ready to revise their yearend target since the figures are not yet official.

However, he noted that they will likely exceed this year’s target since DMCI Homes still have more projects in the pipeline and these will be launched within the year.

“Of course we will try to sell as much as we can,” said Austria addingthat they will be launching a 25-storey residential condominium in Cubao, Quezon City this month.