DMCI Homes continues to expand in Pasig City, with plans to add a third tower to its Prisma Residences project along Pasig Boulevard.
In a statement in Dec. 20, the property arm of DMCI Holdings, Inc. said it is building Kiran at Prisma Residences, following the strong sales at the first two towers, Astra and Celeste.
Prisma Residences sits on a two-hectare-property and offers resort-inspired facilities. Astra and Celeste towers have already been 98% sold out, generating total reservation sales of P8.699 billion as of Sept. 16.
Prisma Residences and Fairlane Residences, which is also located in the same area, were the top drivers of DMCI Homes’ sales during the first nine months of 2018.
Reservation sales of DMCI Homes reached P33.48 billion during the January to September period, on track to hit the company’s P40-billion sales target.
“If it’s any indication of the robust property market in the city, our Pasig projects have been consistent key contributors to the company’s growth through the years… Prisma Residences, for one, has always been a top-seller since the first tower was launched in 2017,” DMCI Homes Assistant Vice-President for Project Development Dennis Yap was quoted as saying.
DMCI Homes already has 11 residential condominium projects in Pasig, including Satori Residences, Brixton Place, Lumiere Residences, Sheridan Towers, and East Raya Gardens.
For the first nine months of 2018, DMCI Homes realized a P3.4-billion attributable profit, which is 29% higher than the same period a year ago due to one-time gain from the sale of its undeveloped lot in Quezon City. Revenues also rose to P14.7 billion, or by two percent, during the same period.
As of end-September, the company has spent P10.3 billion on capital expenditures, with 74% of which was allotted to development costs, while the remaining percentage went to land and asset acquisition. — Vincent Mariel P. Galang
