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DMCI Homes to exceed targets in the next 2 years

August 31, 2011, 11:42pm [ Manila Bulletin Online ]

MANILA, Philippines — DMCI Holdings Inc. expects its housing subsidiary DMCI Project Developers Inc., which uses the brand name DMCI Homes, to post double digit sales growth and exceed targets this year and in 2012.

In an interview, DMCI president Isidro Consunji said he expects reservation sales to register a 22 percent growth in sales to P18 billion in 2011 from P14.7 billion last year.

“Our official target for sales reservation is P13 billion, but we will probably hit P17 to P18 billion. We exceeded our (first half) target,” said Consunji.

He notted that sales will be boosted by the launch of new projects. DMCI Homes has launched a project at the corner of E. Rodriguez and Tomas Morato in Quezon City and a mid-rise building project near the mall of Asia while two more will be launched later this year.

"We expect to grow our sales reservation between 10 to 20 percent every year. We targeted P13 billion, we'll probably hit P18 billion this year. We target P20 billion next year, we'll probably hit P22 billion," Consunji said. For the first half of 2011, DMCI Homes experienced an increase in sales and reservation of 45 percent from P6.9 billion in the first half of 2010 to P10 billion in the first semester of 2011.

Increasing demand for DMCI housing units coming mainly from new projects: La Verti Residences in Taft, Pasay City; the Redwoods in Fairview, Novaliches; Siena Park in Bicutan Paranaque and Stellar Place in Quezon City pushed marketing sales to new heights.

Moreover, increased take up from existing projects East Raya and Magnolia Place also added to the growth in sales and reservations.

DMCI Homes reported that sales and reservations last year expanded to P14.7 billion, up by 69 percent from the P8.7 billion in 2009 due to a combination of a growing demand for near-city dwelling units and the value the DMCI housing unit brings.

The global credit crunch in 2008 and 2009 also helped depress the 2009 results so 2010 results were coming off a lower base. (JAL)
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