OAK HARBOR RESIDENCES is the first development under the DMCI Homes Exclusive line. — COMPANY HANDOUT

DMCI Homes is on track to turn over the first two towers of its luxury condominium project in Parañaque City by June 2020.

The residential segment of DMCI Holdings, Inc., operated by DMCI Project Developers, Inc., said in a statement Thursday it has topped off the first two towers of the three-tower Oak Harbor Residences in October.

“Construction work on DMCI Homes’ first luxury condominium development…has been progressing well, bringing the project in a good position for turnover starting middle of next year,” it said.

DMCI Homes said the 16-storey Lauderdale and 15-storey Westport are slated for turnover in June. The third tower, the 13-storey Aston, is scheduled to be turned over by December 2021.

Oak Harbor Residences, DMCI Homes’ first luxury project, is located on an almost 12,000-square meter lot along Jackson Ave., Asiaworld City, with a view facing Manila Bay. The mid-rise condominium was launched in the fourth quarter of 2016 by DMCI Homes Exclusive, the premium brand of the company.

The Asian Contemporary-themed project hopes to attract investors, expats and leisure-seekers.

Oak Harbor Residences offers units sized from 72.5 square meters to 252 square meters.

The core net income of DMCI Homes grew 5% to P1.19 billion in the first semester on the back of savings from lower project development costs.

The net income of its parent DMCI Holdings, however, fell 22% to P6.7 billion because of lower revenues from its coal and nickel mining businesses.

Shares in DMCI Holdings shed 0.06 point or 0.73% on Thursday to close at P8.21 apiece. — Denise A. Valdez