[ bworldonline.com ]
THE property unit of DMCI Holdings, Inc. will launch on January the final tower for its The Atherton condominium in Parañaque City, following the strong take-up of units in the first two towers.
DMCI Project Developers, Inc., operating under the name DMCI Homes, said in a statement posted on the company’s website that it will develop a 14-storey tower called the Almond, putting up an initial 206 units for sale from its total offering of 318 units.
Units at the Almond range from one-bedroom to two-bedroom layouts with sizes between 29 square meters (sq.m.) to 61.50 sq.m. Prices start at P3.32 million. The company looks to attract both end-users and investors for the project.
Amenities in the development include a lap pool, leisure and kiddie pool, a play area, picnic area, activity lawn, basketball court, gazebo, jogging path, and roof garden.
The Almond will add to the combined inventory of 680 units from The Atherton’s first two towers called Oak and Helicia. The company said that Oak and Helicia have generated P2.2 billion in reservation sales as of Dec. 5, with 76% and 54% of the buildings’ units sold, respectively.
The entire project stands on a 1.7-hectare property along Dr. A. Santos Avenue, formerly Sucat Road in Parañaque.
“Southern Metro remains an attractive market as reflected by the robust sales of The Atherton. We don’t see the market slowing down especially with the emergence of new businesses in the ‘Bagong Nayong Pilipino-Entertainment City,’” DMCI Homes Senior Vice-President for Sales Florante C. Ofrecio said in a statement.
Mr. Ofrecio was referring to the Entertainment City, a strip of integrated resorts and casinos in Parañaque operated by the Philippine Amusement and Gaming Corp. The company expects the Entertainment City to further spur development in the south.
DMCI Homes booked reservation sales of P33.48 billion in the first nine months of 2018, seven percent higher than the same period a year ago. The company expects to hit its target of P40 billion in reservation sales for the entire year.
The company saw its attributable profit jump 29% to P34 billion in the January to September period, lifted primarily by a one-time gain from the sale of its undeveloped lot in Quezon City. Without this item, DMCI Homes’ attributable profit rose two percent to P2.7 billion. Meanwhile, revenues went up by two percent to P14.7 billion.
Aside from property development, DMCI Holdings also has core interests in general construction, coal and nickel mining, power generation, water concession, and manufacturing.
Shares in DMCI Holdings gained 0.67% or eight centavos to close at P12.08 each at the stock exchange on Tuesday. — Arra B. Francia
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