DMCI Homes buys 9,695-sqm property in Cebu
Cebu City―DMCI Homes, the real estate arm of DMCI Holdings Inc., expanded its landbank with the acquisition of a 9,695-square-meter property in Barangay Lahug in this city.
The Lahug property is the second land acquisition made by DMCI Homes in Cebu after acquiring a lot in Barangay Guadalupe where another residential community will rise.
“Cebu is one of the fastest-growing economies in the Philippines. Expanding here is a natural step for us,” said DMCI Homes president Alfredo Austria.
With the two acquisitions, DMCI Homes now has a total Cebu landbank of 55,617 square meters.
DMCI Holdings president Isidro Consunji said the group’s real estate unit aimed to replicate its success in Metro Manila to other areas.
“We are now in the stage of replicating DMIC Homes’ projects in several markets in the country,” Consunji said.
DMCI Homes plans to venture into horizontal developments next year by offering socialized and economic housing projects target the low-income market.
DMCI Homes is initially looking at Bataan and Calaca, Batangas for the horizontal projects.
Meanwhile, the two upcoming developments in Cebu will be high-rise condominium communities that will bear the company’s hallmarks of innovative design and engineering coupled with resort-inspired amenities such as lush landscaping and spacious recreational facilities.
Cebu City―DMCI Homes, the real estate arm of DMCI Holdings Inc., expanded its landbank with the acquisition of a 9,695-square-meter property in Barangay Lahug in this city.
The Lahug property is the second land acquisition made by DMCI Homes in Cebu after acquiring a lot in Barangay Guadalupe where another residential community will rise.
“Cebu is one of the fastest-growing economies in the Philippines. Expanding here is a natural step for us,” said DMCI Homes president Alfredo Austria.
With the two acquisitions, DMCI Homes now has a total Cebu landbank of 55,617 square meters.
DMCI Holdings president Isidro Consunji said the group’s real estate unit aimed to replicate its success in Metro Manila to other areas.
“We are now in the stage of replicating DMIC Homes’ projects in several markets in the country,” Consunji said.
DMCI Homes plans to venture into horizontal developments next year by offering socialized and economic housing projects target the low-income market.
DMCI Homes is initially looking at Bataan and Calaca, Batangas for the horizontal projects.
Meanwhile, the two upcoming developments in Cebu will be high-rise condominium communities that will bear the company’s hallmarks of innovative design and engineering coupled with resort-inspired amenities such as lush landscaping and spacious recreational facilities.
“We are very excited to bring the DMCI Homes brand to Cebu. We believe the discerning local market will find our value-for-money proposition very attractive,” said Austria.
Austria said the Cebu projects will be launched in 2020.
DMCI Homes has been providing quality homes and resort-inspired communities nationwide since 1999. To date, the company has launched more than 70 projects.
Meanwhile, the Cebu Link Joint Venture of Acciona, First Balfour and D.M. Consunji Inc. invested 5.3 million man-hours to build 47 percent of the Cebu-Cordova Link Expressway, a toll bridge that will connect the mainland Cebu from Cebu City to Cordova town in Mactan Island.
The consortium had a total workforce of 1,846 direct and indirect hires as of end-September. It expects to employ more local workers as the project hits its peak in the coming months.
“The design, scale and complexity of this project makes it an engineering and construction marvel. We are proud to be part of this iconic project,” said DMCI president and chief executive Jorge Consunji.
The infrastructure project, at 8.25 kilometers, will be the longest bridge connecting two islands in the Philippines.
The toll bridge is expected to be completed by 2021 in time for the 500th anniversary of the arrival of Christianity in the country.
