DMCI Project Developers, Inc. (DMCI Homes) is targeting P14.36 billion in sales from a new residential condominium in Pasig City.
In a statement, DMCI Homes said it has started the construction of Allegra Garden Place, located along Pasig Boulevard and near Bonifacio Global City (BGC).
The two-tower development “aims to replicate the sales success of DMCI Homes’ neighboring project, Prisma Residences, which is almost sold-out as of September 2019.”
“We have high hopes on this project not just because of Prisma Residences’ success but also because of the potential opportunities presented by ongoing infra projects in the area like the BGC-Ortigas Center Link Road Project,” DMCI Homes Assistant Vice-President for Project Development Dennis Yap said in a statement.
Among these infrastructure projects in the area are the 633-meter BGC-Ortigas Center Link Road and the Metro Manila Subway Project, which runs across several cities including Quezon City, Pasig, Taguig and Pasay. Targeted for completion by June 2020, the bridge will connect with the Lawton Avenue-Global City Viaduct.
“All these upcoming infra projects make the area an even more valuable investment and premier living destination for urban dwellers as they bring every need of residents practically within reach,” Mr. Yap said.
DMCI Homes is hoping Allegra Garden Place will attract first-time homebuyers and young professionals working in BGC, Makati, Ortigas, and Eastwood City.
Allegra Garden Place will have two buildings, Amina and Soraya. It offers one-bedroom, two-bedroom and three-bedroom units, with gross floor area (GLA) ranging from 30 square meters (sq.m.) to 83 sq.m. Prices start at P3.99 million.
Amina, the first tower, is expected to be completed by July 2024.
The real estate unit of DMCI Holdings, Inc. said it will introduce larger doors and windows for its units, an indoor multi-purpose wooden court, and fiber Internet connectivity.
Amenities include an elevated roof garden, kiddie pool, lap pool, leisure pool, game area, bar area, entertainment room, roof-deck, fitness gym and Sky Lounge.
DMCI Homes posted a net income of P1.23 billion in the first half of 2019, 34% lower year on year, due to the absence of a one-time gain from the sale of land last year. Excluding this, core net income was up 6%.
DMCI Homes is part of diversified engineering conglomerate DMCI Holdings, Inc., whose interests also include power, mining, construction, and water.