DMCI on track to complete 2nd tower of Davao project by March

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Verdon Parc is DMCI Homes’ first project in Mindanao. -- COMPANY HANDOUT

DMCI Project Developers, Inc. said it is on track to complete the second building of its residential condo complex in Davao City by next year.

In a statement, the Consunji-led property developer said it has completed structural work for the 20-storey Belvedere tower of Verdon Parc, located in Ecoland Drive corner Peacock Street in Davao City. The company will be able to deliver units to owners by March 2020.

The company, also known as DMCI Homes, added that construction for the third and fourth towers of Verdon Parc is ongoing, as they target to turnover the units by February 2021 and October 2021, respectively.

Verdon Parc’s first tower was turned over to owners in January 2017.

The entire project stands on a three-hectare property that gives people a view of Samal Island and Mount Apo. It offers units sized from 28 to 56.5 square meters. Prices start at P3.19 million.

Amenities include a kiddie pool, lap pool, gazebo, fitness gym, open lawn, entertainment room, children’s play area, and podium deck area, among others.

Verdon Parc is DMCI Homes’ first project in Mindanao, as its developments are mostly located in Metro Manila. The company said it is building up its land bank to continue expanding in the country, ending the first quarter with 150 hectares or P10.2 billion worth of land under its portfolio.

DMCI Homes will be launching ten projects valued at P104 billion this year located across Quezon City, Las Piñas City, Pasig City, Mandaluyong City, and the City of Manila. It is also set to unveil its first project in Cebu.

The company will also be turning over two residential towers this year, namely the Surya and Raja buildings of Alea Residences in Bacoor City

DMCI Homes saw its net income rise five percent to P481 million in the first quarter of the year, even as revenues slipped two percent to P4.4 billion.

The firm is part of diversified engineering conglomerate DMCI Holdings, Inc., which has core interests in coal mining, water, construction, nickel mining, and off-grid power services. — Arra B. Francia