DMCI Project Developers, Inc. has disclosed that its land bank has been increased to 150 hectares by the end of March. This is totaling to P10.2 billion. This company, operating under DMCI Homes, reported that the firm’s land value grew by 71% during the first quarter of 2019 compared to the 125 hectares or P6 billion worth of land it owned in the same period in the previous year. The increase in its land bank is for the purpose of supporting its plan to expand aggressively across the Philippines now that the demand for real estate is growing. Do you think it’s now time for DMCI to shine among the popular real estates in the country? Let’s take a look at the major key points in relation to this land bank growth.
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The firm clearly said that the expansion of their land bank will help them strengthen their presence particularly in Metro Manila, Cebu, and Davao areas. These 3 serve as good markets for the firm as there much more offered outside the city of Manila. In the coming months, DMCI is set to launch 10 new projects worth P104 billion. This year’s projects will be Kalea Heights in Cebu and other real estate projects in Quezon City, Pasig City, Mandaluyong City, Manila, Las Piñas, and Davao City. And apart from this, 2 residential towers are planned to be turned over this 2019—the Surya and Raja wings of Bacoor City’s Alea Residences. Indeed, the plans of DMCI to provide thousands of homes is being done across different market segments.
While the plan to launch more projects this 2019 and the coming years is clear, DMCI has actually completed projects just recently, 6 projects to be exact. These are the Linden and Abaca building of Acacia Estates in Taguig City, Zebrina building of Calathea Place in Parañaque, Darma building of Alea Residences in Bacoor, Fairway Terraces in Pasay City, and Bluebird building of Bristle Bridge in Baguio City. The demand for real estate is growing fast. More and more residential and office units are being constructed across the Philippines, which can be considered as a good thing for those who want to invest in real estate near their homes. The projects mentioned above are just proof that DMCI venturing not just into the Metro Manila market but as well as into the provinces.
According to the firm, it is planning to reach reservation sales of P38 billion this 2019. It also set its capital expenditure to P17.9 billion this year in order to facilitate the constructions of its new projects. During the first quarter of the year, it reported a net income of P481 million which is considered 5% higher than last year’s P460 million. The revenues dropped to P4.4. billion because the reservation sales went down by 27% or to P11.1 billion. In spite of that, the firm still managed to generate a positive income.