DMCI Homes expands QC condominium project
DMCI Homes, Inc. (DMC), the real-estate arm of DMCI Holdings, revealed on January 25 the second tower of its 40-storey residential condominium project called Infina Towers. The tower is located along Aurora Boulevard in Project 3, QC. Its land area covers 12, 701 square meters.
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DMCI pricing strategy targets the middle income market
The price of each unit will start at P5.08 million with its pre-selling period starting on January 26. The tower is strategically placed near top-notch educational institutions such as University of the Philippines Diliman and Ateneo de Manila, businesses nearby Araneta Center and medical institutions. It is also accessible through the Anonas Station of Light Rail Transit Line 2 and Araneta Bus Terminal.
DMCI has been aggressive in its launches
The launch of the second tower came less than a year after its North Tower launch in April 2017 which is already 64% sold. Its amenities include lounge and game areas, a gym, audio-visual room, sky lounge, function room, pool complex, gazebo, court roof garden, and a basketball court. It will also offer commercial spaces as well as a five-level basement parking space. DMCI Homes’ net income grew by 59% in the first nine months of 2017 due to higher sales and reservations.
Property boom and the TRAIN Law
Lately, there has been a surge of demand in the real estate business. Various developers are aggressive with their sales strategies especially with the latest Ayala and Eton’s township investment and Megaworld’s sold out condominium units. With the new tax reform law, it gives consumers a higher take-home pay which is a good indicator for business to flourish despite the increase in prices of goods and services.
Technicals
Looking at the chart below, the stock just broke all short, mid and long term support ranges. Price and momentum oscillators are also showing further movement downward. Should the stock fail to go back at 15.1, the stock may retrace further to the support at 13.90.
The price range of 15.1 is very important also for position traders as the stock will further confirm its downward movement should the stock fail to go above that level.
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