DMCI Homes to turn over Pasig condominium units by next year

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DMCI Project Developers, Inc. (DMCI Homes) is on track to turn over units at the last tower of Lumiere Residences in Pasig City by November 2020.

In a statement, DMCI Homes said the construction work on the North Tower is now down to unit finishes as of August.

Lumiere Residences is a three-tower residential development at the corner of Pasig Boulevard and Shaw Boulevard.

“The 43-level high North Tower should be ready to start accepting its first batch of residents by November 2020 as committed by DMCI Homes when construction began in 2015,” the company said.

East Tower and West Tower were both completed a year earlier than their original target ready for occupancy schedule.

The East Tower was ready for occupancy by October 2017, while the units at the West Tower was turned over to owners in June 2018. Both towers are 38 storeys high.

DMCI Homes said the towers at Lumiere Residences feature the company’s innovative design and engineering found in its other projects, such as amenities and its proprietary Lumiventt Technology that provide ambient air and light inside its buildings.

DMCI Homes is planning to launch seven projects within this year. The company earlier unveiled two projects in Quezon City that are expected to generate P10 billion worth of sales.

The company said other projects to be launched will be located in Pasig City, Las Piñas City, Mandaluyong City, Davao City, and Cebu City.

DMCI Homes booked 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.