DMCI Homes grows land bank by 41%, cites strong demand for projects

By MA. LISBET K. ESMAEL on May 28, 2018  

http://www.manilatimes.net/dmci-homes-grows-land-bank-by-41-cites-strong-demand-for-projects/401577/

CONSUNJI-LED DMCI Homes said its land bank expanded by 41 percent to 125.22 hectares at the end of the first quarter of 2018 from just 88.89 hectares a year earlier as it continued to accumulate raw land for development amid growing demand in the property market.

In a statement, the property firm said that as of end-March 2018, it had accumulated additional parcels of land with a total value of P6 billion to hit a land bank of 125.22 hectares. A big chunk of the newly purchased raw lands are in Metro Manila while the rest are in various areas in Luzon, the company said.

“Despite the fierce competition in our segment, the demand for DMCI Homes properties remains strong so we are building [up]our land bank,” said DMCI Homes President Alfredo Austria.

The company reported a 15-percent increase in sales in the first quarter of 2018 and reservations of P15 billion, versus the P13 billion worth of reservations booked in the same period in 2017.

Leading the list of DMCI Homes’ top project performers is Prisma Residences located in Pasig City followed by Infina Towers and Verdon Parc located in Quezon City and Davao City, respectively.

“We had an excellent run last year. We topped our reservation sales target by more than 153 percent. Hopefully, we can sustain our growth with our new product offerings,” said Austria.

For 2018, DMCI Homes is set to introduce eight high-rise projects in Davao City, Las Pinas, Manila, Paranaque, Pasay, Pasig and Quezon City.

These projects are expected to have a combined sales value of P49 billion, more than half of the P32 billion sales generated by three developments that were launched in 2017.