THE PROPERTY ARM of DMCI Holdings, Inc., the holding firm of the Consunji family, booked record sales this year on the back of robust demand for its residential projects.
DMCI Holdings Chairman and President Isidro A. Consunji told reporters on Wednesday reservation sales of DMCI Homes reached P37 billion as of October, on course to hit “almost P40 billion” this year.
Unlike other real estate companies, DMCI Homes maintains a sales reporting period that begins in December.
With interest rates expected to increase next year, Mr. Consunji said the outlook for the real estate sector will be a “little bit challenging” even as aggregate demand remains strong.
At end-September, DMCI homes registered P35.3 billion in sales and reservations, surpassing the P25.5 billion target by 38% on the back of a solid double-digit growth in the number of residential and parking units sold during the period.
DMCI Homes sold 8,486 residential units from December 2016 to September 2017, up 39% from 6,084 in the prior year. In the same period, parking units sold rose 38% to 4,924 units from 3,557 units.
This year, DMCI Homes turned over three projects one year ahead of schedule: Lumiere Residences, Sheridan Towers and Mirea Residences.
Higher sales and reservations drove DMCI Homes’ net income to P2.7 billion, up 59% from the restated earnings of P1.7 billion for the same period a year ago.
Shares in DMCI Holdings rose 0.13% to close at P15.50 apiece on Thursday. — Krista Angela M. Montealegre