DMCI Homes to launch P104-billion projects this year.
DMCI Homes Inc. on Tuesday said it plans to launch 10 real-estate projects worth P104 billion this year, a 271-percent increase from the P28-billion projects it launched in 2018.
The company said some of its projects are located outside of Metro Manila, including Kalea Heights in Cebu, a new market for DMCI.
'We believe the DMCI Homes brand can do well in the competitive Cebu market. There's wider acceptance of condominium living in the area, and our projects offer great value for money,' DMCI Homes President Alfredo R. Austria said.
The other developments scheduled for launch this year include Cameron Residences and Cresmont in Quezon City; Parama Residences and Sonora Garden Residences in Las Pinas City; and Sovanna Towers and Allegra Garden Place, both in Pasig.
The company is also set to introduce Camden Place located in Manila and and Sage Residences in Mandaluyong City.
The company is also launching Belleza Towers to strengthen its presence in Davao City.
To finance the project launches, DMCI Homes has earmarked P17.9 billion in capital expenditures, up by 23 percent year-on-year from P14.5 billion in 2018.
Project funding will come from a mix of internal funds, including cash flows generated from the project and bank borrowings, it said.
DMCI Homes first expanded its real-estate footprint outside Metro Manila in 2013 with the launch of Outlook Ridge Residences in Baguio City. In 2016, the developer launched Verdon Parc in Davao City.
The company started developing residential projects in 1999. To date, the company has launched a total of 73 projects.
|Printer friendly Cite/link Email Feedback|
|Publication:||Business Mirror (Makati City, Philippines)|
|Date:||Mar 20, 2019|
|Previous Article:||C-5 Mansions partners with Novel Residential.|
|Next Article:||Meralco expects energy sales in January-February to rise 2 percent.|