DMCI expands land bank by 41%

Listed firm DMCI Holdings, Inc. announced on Monday that DMCI Homes has expanded its land bank by 41 percent since 2017, with most of its newly-acquired land located in Metro Manila. (Photo: DMCI Homes/Facebook)

MANILA — Listed firm DMCI Holdings, Inc. announced on Monday that DMCI Homes has expanded its land bank by 41 percent since 2017, with most of its newly-acquired land located in Metro Manila.

In its disclosure to the Philippines Stock Exchange, DMCI said its residential property unit now has a total land bank of 125.22 hectares from 88.89 hectares last year. Its accumulated land has a total value of PHP6 billion.

DMCI Homes President Alfredo Austria said the company remains optimistic about its business despite the strong competition in the market, thus, the firm continues to build its land bank.

DMCI Homes will launch eight high-rise projects this year. The bulk of these is in Metro Manila, particularly in the cities of Las Piñas, Manila, Parañaque, Pasay, Pasig, and Quezon. The company will also launch a high-rise residential project in Davao City.

These projects are projected to have sales value of PHP49 billion, higher by 53 percent than the PHP32 billion sales value of three developments DMCI Homes launched in the previous year.

For the first quarter of 2018, DMCI Homes increased its sales and reservation of its existing projects by 15 percent to PHP15 billion from PHP13 billion in Q1 2017.

Top project performer for the company is its Prisma Residences in Pasig City, followed by Infina Towers in Quezon City and Verdon Parc in Davao City.

“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,” Austria said.