THE property unit of DMCI Holdings, Inc. remains on track to reach its P40-billion target for reservation sales this year, following the strong demand for its projects in Mandaluyong and Pasig.
DMCI Project Developers, Inc., which operates under DMCI Homes, said in a statement on Thursday that reservation sales reached P33.48 billion in the first nine months of 2018. This is seven percent higher than the P31.34 billion it posted in the same period a year ago.
“The target was P31 billion at the start of the year. We adjusted it in the middle of the year. So we think we’re on track to reach that (P40-billion target),” DMCI Homes President Alfredo R. Austria told reporters in a Nov. 11 briefing.
Mr. Austria noted the company booked about P39 billion in reservation sales in 2017.
The company attributed the strong sales to Kai Garden Residences in Mandaluyong, after it booked P8 billion in sales by end-September. Also among the top contributors were its Pasig developments named Fairlane Residences and Prisma Residences, which delivered P7.26 billion and P3.18 billion worth of sales and reservations, respectively.
At the same time, DMCI Homes launched Fairlane Residences, The Atherton in Parañaque City, and Satori Residences in Pasig City. The launch of new projects during the nine-month period is set to generate about P21 billion in sales.
The Consunji-led firm also noted that it was able to increase its landholdings to P9 billion in the first three quarters of 2018, from P4.9 billion in the same period a year ago due to new acquisitions in Visayas and Mindanao.
“This is part of the company’s plan to expand outside Metro Manila which started with Outlook Ridge Residences in Baguio City and Verdon Parc in Davao City. We are also hoping to help address the housing needs in other key cities like Cebu in the near future,” Mr. Austria said in a statement.
The company reported that it has completed 10 buildings this year, including Bristle Bridge in Baguio City, Brio Tower in Makati City, Asteria Residences in Parañaque City, Mirea Residences and Lumiere Residences in Pasig City, and Ivorywood in Taguig.
DMCI Homes realized an attributable profit of P3.4 billion in the first nine months of 2018, 29% higher year-on-year due to a one-time gain from the sale of its undeveloped lot in Quezon City. Excluding this, the company’s attributable profit went up two percent to P2.7 billion.
Revenues also rose by two percent to P14.7 billion during the period.
The company spent P10.3 billion worth of capital expenditures as of end-September. Of this, 74% went to development costs. Land and asset acquisition cornered the remaining balance. — Arra B. Francia

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