posted December 02, 2015 at 11:40 pm by Jenniffer B. Austria [THESTANDARD.COM.PH]
DMCI Project Developers Inc., the real estate arm of the Consunji family’s DMCI Holdings Inc., on Wednesday disclosed a plan to launch P50 billion worth of residential projects in 2016, its biggest in 16 years.
DMCI PDI president Alfred Austria said the company would introduce 14,000 residential units in the market next year, including mass housing and high-end residential projects.
The company targeted to launch 10,000 residential units worth P30 billion in 2015.
The launching of more housing units next year is expected to boost the company’s reservation sales to P23 billion in 2016 from P20 billion this year, he said.
Austria said for the mass housing development, the company was looking at Bataan for its first horizontal development.
Austria said DMCI Holdings’ major shareholder Dacon Corp. currently owns a huge property in Bataan that could be transformed into a house and lot development.
He said the company’s venture into mass housing would enable it to serve more people.
The property firm also aims to launch a high-end development within a 1.1-hectare property near Pagcor Entertainment City in Parañaque.
Austria said the project would offer 300 units with average size of 80 square meters to 100 square meters to be sold at around P10 million per unit.
DMCI PDI will also start to expand outside Metro Manila with the acquisition of a 2.9-hectare property in Davao City, he said.
The company also plans to start construction of its first office development in Makati as soon as it gets all the necessary permits, he said.
Meanwhile, DMCI PDI chief finance officer Ramil Lombos said the company successfully raised P10 billion from the sale of five-year corporate notes.
Lombos said total demand for the corporate notes reached as much as P30 billion, but the company obtained only P10 billion which would be used to finance the P5-billion corporate notes maturing in 2016 and support its aggressive expansion plan.
The company hired BDO Capital and Investment Corp. as the lead arranger for the notes issuance.