[ bworldonline.com ]
DMCI Homes continues to expand in Pasig City, with plans to add a
third tower to its Prisma Residences project along Pasig Boulevard.
In a statement in Dec. 20, the property arm of DMCI Holdings, Inc.
said it is building Kiran at Prisma Residences, following the strong
sales at the first two towers, Astra and Celeste.
Prisma Residences sits on a two-hectare-property and offers
resort-inspired facilities. Astra and Celeste towers have already been
98% sold out, generating total reservation sales of P8.699 billion as of
Sept. 16.
Prisma Residences and Fairlane Residences, which is also located in
the same area, were the top drivers of DMCI Homes’ sales during the
first nine months of 2018.
Reservation sales of DMCI Homes reached P33.48 billion during the
January to September period, on track to hit the company’s P40-billion
sales target.
“If it’s any indication of the robust property market in the city,
our Pasig projects have been consistent key contributors to the
company’s growth through the years… Prisma Residences, for one, has
always been a top-seller since the first tower was launched in 2017,”
DMCI Homes Assistant Vice-President for Project Development Dennis Yap
was quoted as saying.
DMCI Homes already has 11 residential condominium projects in Pasig,
including Satori Residences, Brixton Place, Lumiere Residences, Sheridan
Towers, and East Raya Gardens.
For the first nine months of 2018, DMCI Homes realized a P3.4-billion
attributable profit, which is 29% higher than the same period a year
ago due to one-time gain from the sale of its undeveloped lot in Quezon
City. Revenues also rose to P14.7 billion, or by two percent, during the
same period.
As of end-September, the company has spent P10.3 billion on capital
expenditures, with 74% of which was allotted to development costs, while
the remaining percentage went to land and asset acquisition. — Vincent Mariel P. Galang
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