Posted on January 12, 2012 10:56:16 PM [ BusinessWorld Online ]
DMCI Homes, Inc., the property unit of listed conglomerate DMCI Holdings, Inc., is poised to launch at least seven residential projects this year amounting to P13 billion, the company told the local bourse yesterday.
In a disclosure, DMCI Holdings said it would build 5,800 units through its property arm DMCI Homes for.
“We confirm that we are projecting to launch at least seven new residential projects for this year with projected cost of P13 billion and will produce 5,800 units of fresh inventory,” Aldric G. Borlaza, DMCI Holdings finance officer told the Philippine Stock Exchange.
“We still have new projects in the pipeline, however, the launch dates are still to be determined,” he added.
The projects would cater to the mid-income market.
“Our focus and target has always been the mid-income market,” DMCI Holdings Managing Director Victor S. Limlingan told BusinessWorld in a telephone interview.
“The mid-income market is bigger and our competence is in line more on the mid-income,” he added.
DMCI Holdings’ net income attributable to its equity holders increased by 10.37% in the third quarter last year to P1.756 billion from P1.591 billion.
Meanwhile, the conglomerate’s nine-month net income in 2011 hit P7.036 billion, 25.8% higher from P5.772 billion in year-ago levels.
Aside from property and construction, the conglomerate also has interests in power and mining through its subsidiary Semirara Mining Corp., and water utility through Maynilad Water Services, Inc., which is a consortium with Metro Pacific Investments Corp.
Shares of company rose by 0.34% to P44.55 apiece when the stock market closed yesterday. -- Cliff Harvey C. Venzon