Vol. XXII, No. 54 [ Business World Online ]
Thursday, October 9, 2008 | MANILA, PHILIPPINES
THE PROPERTY arm of Consunji-led DMCI Holdings, Inc. expects higher sales next year as demand for medium-rise buildings continues.
In a press briefing, DMCI Homes Managing Director Alfredo R. Austria yesterday said they expect sales to rise by a third to P14 billion.
"We expect slight growth. There are still a [number] of customers who do not own their homes and we are targeting these end-users," he told reporters.
Rey C. Salazar, director for business development, noted that because of strong demand, said the company is shelling out about P3 billion to develop three new projects, and as much as P8 billion to finish all its projects next year.
"There are three to five more projects in the company’s pipeline next year," he said.
The company yesterday launched its three medium-rise development projects — Ohana Place, Magnolia Place and East Raya Gardens. It has 11 ongoing projects
The 3.15-hectare Ohana Place in Las Piñas will have seven five-storey buildings with 738 combined units costing P2.25 million for a two-bedroom unit with a floor area of 42 square meters. A three-bedroom unit with a floor area of 66 square meters will cost P4.32 million.
Majority of the land will be devoted to open spaces and outdoor amenities, and about 40% will be allotted for the buildings.
"Ohana Place intends to attract those living in Southern Metro Manila and nearby cities like Muntinlupa and Parañaque who are looking for a new place," Mr. Austria said. DMCI Homes said it expects to turn over the first building by August next year.
Meanwhile, the 3.29-hectare Magnolia Place in Quezon City will have 13 five-storey buildings with 843 combines units. A 42-square meter two-bedroom unit will cost P2.28 million, while a 66-square meter three-bedroom unit will be sold for P4.19 million.
Mr. Austria noted that unlike Ohana Place, Magnolia Place will target young and growing middle-income families upgrading their homes or buying for the first time.
"Professionals or families coming from nearby provinces or cities who are looking for a home are also considered potential dwellers," he said. The first two are expected to be turned over by February 2010.
Mr. Austria said for the 2.91-hectare East Raya Gardens, the company also expects to attract upgraders from Pasig and nearby areas like Marikina, Antipolo, Cainta and Rizal.
Located in Pasig City, East Raya will have eight five-storey mid-rise buildings with 778 combined units. A 42-square meter two-bedroom unit will cost P2.25 million, while a 66-square meter three-bedroom unit will be sold for P4.13 million.
Mr. Austria said the first building will also be turned over by February 2010. "We want to sustain our medium-rise development projects," Mr. Austria said. To date, DMCI Homes has sold 3,641 units. — Kristine Jane R. Liu
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