DMCI HOMES has completed a condominium project in Taguig City 10 months ahead of its July 2020 deadline.
DMCI Homes operator DMCI Project Developers, Inc. said in a statement late Friday it is now done with the construction works for its Maple Place residential condominium project in Acacia Estates, Taguig City.
“DMCI Homes declared the completion of the Boutique Hotel architecture-inspired project following the delivery of the last structure in the three-building mid-rise development, Spruce, last month,” it said.
The other two buildings of the 1.23-hectare Maple Place in Taguig City were also completed earlier this year.
DMCI reported in June it had already finished 10 condominium projects in the first half of the year, namely: Alea Residences’ Darma and Surya buildings in Bacoor City, Cavite; Torre De Manila in Manila; Zebrina building of Calathea Place in Parañaque City; Bluebird building of Bristle Ridge in Baguio City; and Fairway Terraces in Pasay City.
Completing the 10 are the Linden and Aspen buildings of Maple Place and the Adelfa and Abaca buildings of Ivory Wood, both mid-rise projects located in Acacia Estates, Taguig City.
DMCI Homes is allocating P17.9 billion for capital expenditures this year, 23% up from a year ago, as it wants to take on an aggressive expansion in and out of Metro Manila to reach Cebu and Davao.
The company booked a core net income of P1.19 billion in the first half, up 5% from a year ago, due to lower project development costs.
Its parent, diversified engineering conglomerate DMCI Holdings, Inc., meanwhile dropped 22% to a net income of P6.7 billion due to weaker revenues from its coal mining and nickel mining businesses. — Denise A. Valdez
