MANILA, Philippines — DMCI Homes, the property development arm of the Consunji Group, is expanding its land bank in Luzon to nearly 100 hectares from 65.1 hectares as it expands into new market segments.
The company has earmarked P18.6 billion for its 2023 project development and land acquisitions, an 18-percent increase from the P15.8 billion recorded the previous year.
From January to March alone, its capital spending rose by 27 percent to P4.2 billion, which mostly went to project development.
The residential subsidiary of DMCI Holdings Inc. will make its foray into leisure, condotel, and township, and has acquired properties for these new formats in Batangas, Laguna, Bulacan and Pampanga.
“We recognized a demand for leisure properties and saw it as an opportunity to expand our product line. By offering quality and best value in this market, we hope to duplicate the success of our core residential line,” said DMCI Homes president Alfredo Austria.
DMC Homes, through its new sub-brand DMCI Homes Leisure Residences will launch Solmera Coast, a condotel project in Batangas.
The condominium units will be owned by individual investors who will then rent out their units to guests through DMCI Homes Leisure Residences.
This business model allows the company to generate revenues from both the sale and rental of the units.
According to DMCI Homes, buyers can use the unit as a vacation home and receive a share in the rental revenue, which can help offset the cost of ownership.
“DMCI Homes Leisure Residences is for buyers who want to invest in premium properties that provide one-of-a-kind experiences and attractive returns,” said Austria.
Aside from Solmera Coast, the leisure sub-brand will include a Japanese-inspired nature park in Laguna and a mountain resort in Benguet.
DMCI Holdings chairman Isidro Consunji said DMCI Homes would employ value engineering techniques to identify cost-efficient options, while exploring alternative business models, such as joint ventures, to further optimize operations.