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Business Mirror
Written by Miguel R. Camus / Reporter
Wednesday, 02 June 2010 22:07
"As it's going right now, we are exceeding the target," Austria said.
He added DMCI Homes will enter new markets and will likely retool its portfolio, currently composed of middle-rise residential condominiums, to include more high-rise structures in the coming years.
DMCI Homes, which has been building themed communities for the past 10 years, said its projects are priced lower by 40 percent compared with that of other developers. The bulk of the company's housing units has a selling price below P2.5 million.
]]>Malaya Business Insight
BY ALBERT CASTRO
THURSDAY JUNE 3, 2010 PHILIPPINES
Since starting operation in 2000, the company has delivered a total of 10,000 units and has created communities like Raya Gardens in Merville, Paranque, Rosewood Pointe in Acacia Estates, in Taguig City, Tivoli Garden Residences in Mandaluyong, and Magnolia Place in Quezon City.
The company has completed a total of 20 projects with 12 active projects.
It became visible in the real estate market since 2006 as it developed projects closer to main thoroughfares. Much of the company's 70 hectare landbank is located in Taguig City.
The company now has projects that can be found in nearly all the cities in Metro Manila.
In 2009, the company booked a revenue of P7.1 billion, up from P3.9 billion the previous year. Net income this year is seen to hit P1 billion.
"Our order was to grow 20 percent a year," said Austria.
"If the buyer is a developer, they may pause buying if the interest rates go up, but if it's a family, they will still buy even if the rates go up a little," said Austria.
In reservation sales term, the company booked P9.5 billion last year, compared to P8.5 billion the previous year. This year DMCI is targeting a reservation sales of P10.5 billion, said is seen to exceed by about 25 percent, according to Austria.
This year, the company launched Cedar Crest, a medium-rise project in Taguig City, The Redwoods in Fairview, Quezon City, and Iris Tower at Tivoli Garden Residence.
For the second half of the year, DMCI Homes plans to launch La Verti Residences --- a twin high-rise tower located behind the Manila Adventist Hospital along Donada st., Taft Ave., Pasay; Flair Towers --- a two-tower high-rise along Reliance corner Pines st., near EDSA; Sienna Park Residences --- a medium-rise development in West Service Road, Bicutan, Paranaque; a medium-rise development in Visayas Ave., QC.; and another medium-rise property in Muntinlupa that will be set on a sprawling 3 hectare property. Total capex for the year is at P5.5 billion.