By Richmond Mercurio (The Philippine Star) | Updated June 23, 2015 - 12:00am
MANILA, Philippines - DMCI Homes, the real estate arm of engineering conglomerate DMCI Holdings Inc., plans to venture into more projects in the provinces to support its plan to increase sales by 10 percent annually.
DMCI president Isidro A. Consunji said the property developer is looking at more areas outside Metro Manila such as Davao, Bataan, Naga, and Dagupan.
Consunji said the plan is to put mid-rise, high-rise and subdivision projects in these markets to support its growth.
“We are starting now, we’re already talking to some people. Provincial markets are now maturing. Demand is growing. The growth of the business process outsourcing sector is creating a lot of demand for affordable housing,” he said.
Consunji said the company would apply the same concept of “community based and family-oriented” approach it has in Metro Manila for its planned provincial venture.
“We want to sell below the P2-million market,” Consunji said.
For its existing projects, Consunji said DMCI Homes has been focused mostly on the mid- to high-rise residential development around Metro Manila, attracting “urban couples with one or two children.”
DMCI Homes expects to grow its residential sales by 10 percent annually starting this year.
Sales and reservation sales this year are expected to reach P22 billion from last year’s P20 billion.
The company earlier said it is preparing to spend as much as P12 billion this year as it seeks to grow profits over a tenth by yearend.
DMCI Homes plans to launch five projects this year that will add 3,155 units to its existing 40 completed projects consisting of 28,854 units.
For next year, DMCI Homes will continue with its expansion with nine new projects already being lined up.
The nine new projects up for launch in 2016 will further boost the company’s portfolio by an additional 10,770 units.
Since its establishment in 1999, DMCI Homes has launched 56 projects composed of larger than usual condominium units in mid-rise and high-rise developments.