DMCI Homes to launch condo project under new brand

DMCI HOMES, the property arm of listed DMCI Holdings, Inc., is introducing a new sub-brand that will cater to students and young professionals through a new project on Taft Ave.

In a statement, DMCI Homes said it is launching DMCI Homes Ascend, which will feature units located near universities and business centers and will have commercial areas, co-working spaces and convenient facilities.

This is the second sub-brand to be formed out of DMCI Homes, after DMCI Homes Exclusive, which was launched in 2016 for the luxury market.

“With DMCI Homes Ascend, we hope to provide quality living spaces that better fit the needs of young working professionals and students, especially with the evolving lifestyle brought about by the pandemic,” DMCI Homes President Alfredo R. Austria said.

The company will launch its first property before the end of the year, which will feature a mix of studio, one-bedroom and two-bedroom units.

This will be located in Malate, Manila near College of St. Benilde and De La Salle University. DMCI Homes said the location is suited for the brand it is vying for because it links Manila, Pasay and Makati—all cities with business hubs.

“Our clients can be assured that DMCI Homes Ascend will carry the same brand DMCI Homes is known for—quality workmanship and value-for-money homes,” Mr. Austria said.

DMCI Homes said in August that it was looking to launch two to three new properties before the end of the year because of encouraging sales despite the coronavirus pandemic.

The company booked P38 million in profits during the first semester, down 97% year on year, due to lower revenue recognition from delayed construction accomplishments.

The income of DMCI Holdings, which includes interests in real estate, mining, construction, water and power, fell 69% to P2 billion during the six-month period.

Shares in DMCI Holdings at the stock exchange picked up four centavos or 0.95% to close at P4.25 apiece on Tuesday. — Denise A. Valdez

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Article and Photo originally posted by BusinessWorld last October 14, 2020, 12:08am.