DMCI Project Developers, Inc. has launched a new residential condominium in Pasay City, targeting first-time homeowners and young families.

The company, which operates the residential brand DMCI Homes, said in a statement that it has unveiled Aston Residences, a 45-storey tower along Dominga Street. The project will offer one- to three-bedroom units covering 30 to 87 square meters at a price range of P4.81 million to P10.87 million each.

DMCI Homes looks to attract first-time homebuyers, young families, and young professionals for the project, banking on its proximity to several universities and central business districts.

Aston Residences will rise within the vicinity of De La Salle-College of Saint Benilde, St. Scholastica’s College, University of the Philippines Manila, the Asian Institute of Management, and Mapua University.

The company also noted that it is near Makati Central Business District, the Bay Area, and Roxas Boulevard.

Aston Residences’ amenities include a fitness gym, lap pool, kiddie pool, podium deck garden, entertainment room, play area, and a Sky Promenade.

DMCI Homes will also include a laundry station, convenience store, and a water refilling station.

Aside from end-users, the company also hopes to attract investors to acquire units.

“DMCI Homes is optimistic that the new project called Aston Residences will generate good interest not just from end-users but also investors who are counting on big returns from competitive rental income and capital appreciation potential,” the company said in a statement.

It targets to complete the project by March 2024.

DMCI Homes has committed to launch seven projects within the year, two of which have been unveiled during the first half. The two projects located in Quezon City are seen 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%.

Reservation sales for the period went down 13% to P20.1 billion, mainly because of the timing of project launches. It looks to record P38 billion in reservation sales for the entire year.

DMCI Homes is part of diversified engineering conglomerate DMCI Holdings, Inc., whose interests also include power, mining, construction, and water. — Arra B. Francia