Developer DMCI Homes plans to invest roughly P16 billion this year, mostly to start up to five new projects as the real estate behemoth expands its holdings in the central business districts (CBDs) of Metro Manila.
The company's 2024 capital expenditures, which are marginally higher than those of the previous year, will mostly go into project development and portfolio expansion, according to DMCI Homes President Alfredo Austria.
Projects this year
“There might be something outside of Luzon, but what is certain is in Metro Manila and then one in Northern Luzon,” Austria bared.
Following the success of the company's first leisure property, Solmera Coast, a 7.5-hectare beach park condotel complex in Batangas, DMCI Homes previously announced that it is planning to create its second leisure project in Benguet.
In March, the Valeron Tower, a 55-story project by DMCI Homes and Japanese corporation Marubeni Corp., was unveiled to rise inside Pasig City's bustling Ortigas Center and along C-5.
Company’s optimism
“We continue to be optimistic because we had good sales in the first quarter of this year. We’re currently assessing the market condition and we’re still very confident that we can provide good value,” Austria said.
The P15 billion Pasig condominium project is expected to be finished by July 2029 with revenues expected to reach P22 billion.
Better selling prices and increased revenue from rental and forfeiture fees propelled DMCI Homes to P4.6 billion in core earnings in 2023, an increase of 2% year over year.
