DMCI Homes to start 3 projects before yearend
September 1, 2020 | 12:02 am [ bworldonline.com ]
DMCIHOMES.COM
DMCI HOMES plans to start residential developments this year as it remains bullish about the property market amid a coronavirus pandemic.
In a statement, the property arm of listed DMCI Holdings, Inc. said it was finalizing plans for a new residential project at its 150-hectare Acacia Estates in Taguig City. It is also studying new projects in Makati and Manila.
“Sales of our projects are still encouraging despite current circumstances which gives us confidence to launch two to three new properties before yearend,” DMCI Homes President Alfredo R. Austria said in the statement.
“Acacia Estates is always on our list because of the strong residential demand in the area,” he said. The company is also working on permits to use its land bank in Makati and Manila, he added.
The new project in Taguig City called Alder Residences will be a high-rise condominium standing on 28,607 square meters of land, according to DMCI Homes’ website.
The company said it would continue developing the Acacia Estates township as its recently finished project — Mulberry Place — was quickly sold out within weeks from launch.
The 13-year-old Acacia Estates is home to more than 8,000 families. It is near McKinley Hill, Bonifacio Global City, Makati City and the Ninoy Aquino International Airport.
Aside from residential properties, the township also features a 22,000-square-meter commercial space with restaurants, salons, gyms and a supermarket.
“Through the years, DMCI Homes has continuously developed Acacia Estates to bring the necessities of modern living to the residents,” it said.
The property developer posted a 97% profit decline to P38 million in the first six months as its operations were disrupted by the coronavirus pandemic.
Income at the whole DMCI group, which has businesses in mining, construction, water and power plunged 69% to P2 billion from a year earlier. — Denise A. Valdez
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