DMCI Homes earns 41% more in 6 months Iris Gonzales (The Philippine Star) – August 28, 2018 – 12:00am

MANILA, Philippines — Consunji-owned DMCI Homes, the country’s first Quadruple A developer, grew its net income by 41 percent in the first half, buoyed by strong demand for projects in Metro Manila and in the provinces.

The company posted a net income of P2.49 billion in January to June, higher than the P1.76 billion recorded a year ago.

Reservation sales rose four percent to P23 billion.

DMCI Homes president Alfredo Austria said the company’s developments have already grown popular among buyers.

“Our pioneering resort-style developments have gained a strong following among buyers. There is healthy demand for our projects in Metro Manila, and even in Davao and Baguio,” Austria said.

Encouraged by its strong sales, DMCI Homes hopes to replicate its success in other parts of the country.

The company is also planning new formats such as dormitory type units and office buildings.

“We are also exploring new product formats as condo units continue to evolve as a versatile solution to urban living challenges,” Austria said.

DMCI Homes sees reservation sales to further pick up in the second half with the scheduled launch of mid-rise and high-rise developments in Parañaque, Manila, Pasay, Las Piñas, Davao and Quezon City.

Leading the list of its top project performers for the first half are Prisma Residences, Fairlane Residences and Mirea Residences in Pasig City; Kai Garden Residences in Mandaluyong City; The Orabella, Infina Towers, The Celandine, and Zinnia Towers in Quezon City; and Verdon Parc in Davao City.

DMCI Homes is the property arm of DMCI Holdings Inc., the infrastructure and engineering conglomerate.

The holding firm posted a 21 percent increase in first-half earnings to P9.2 billion on higher contributions from its real estate, coal mining, construction, nickel mining and water businesses.

This article first appeared on www.PhilStar.com