DMCI Homes’ sales bounce back in Q3

Leading resort-inspired developer DMCI Homes recorded a strong sales rebound in the third quarter following the launch of two transit-oriented projects, Fortis Residences in Makati and Sage Residences in Mandaluyong.

In a statement, the firm said that, a popular urban planning concept in key cities across the world, transit-oriented developments feature walkable mixed-use communities near high-quality train systems.

“Fortis Residences is particularly exceptional because it will be part of Makati’s next commerce, culture, and recreation hub through the city’s redevelopment plan, called Makati Southwest Gateway,” said DMCI Homes President Alfredo R. Austria.

He added that, “We’re also building an adjacent building that will include office, retail and commercial spaces called One Fortis Plaza, so residents can have easy access to shops, restaurants or even work.”

From July to September, DMCI Homes more than doubled (159 percent) its sales and reservations from 1,641 units to 2,610 units, which included 1,473 residential units and 1,137 parking slots.

Average unit selling price of DMCI homes have increased with the launch of Fortis Residences in July, which featured larger-cut units, ranging from 72.5 square meters to over 152 square meters, with list price ranging from P18 million to P38.6 million.

With stronger sales and higher selling prices, DMCI Homes nearly doubled its total sales value from P6.6 billion to P11.7 billion.

For the third quarter alone, DMCI Homes recorded a 25 percent jump in net income from P919 million to P1.15 billion owing to higher selling prices and other income.

From January to September, its net income dipped by 2 percent from P4 billion to P3.9 billion on lower construction accomplishments, less new accounts that qualified for revenue recognition and sales cancellations.

If you like this article, share it on social media by clicking any of the icons below.

Or in case you haven’t subscribed yet to our newsletter, please click SUBSCRIBE so you won’t miss the daily real estate news updates delivered right to your Inbox.

The article was originally published in Manila Bulletin and written by James A. Loyola.