The real estate arm of DMCI Holdings Inc. is taking a break from its aggressive selling next year, as it aims to firm up the quality of its products, targeting “flat sales” of P20-billion annual reservation sales starting next year.
DMCI Homes is the property unit of conglomerate DMCI Holdings through its wholly owned subsidiary DMCI Project Developers Inc.
At the sidelines of BDO-The Asset Property Forum held on Wednesday in Makati City, Isidro Consuji, president and chief executive officer of DMCI Holdings, said that the company is eyeing flat sales starting next year amid its plans to improve the value of its products.
“We will not focus on selling more. We are targeting flat sales of P20 billion a year, we will focus on our internal organization, improving the product, and our business processes,” Consuji said, adding that this year, the company only expects P19 billion in reservation sales.
Consuji added that the firm wants to “emphasize value” in its projects.
Currently, DMCI Homes has 50 residential projects nationwide and according to Consuji, the company will maintain its low price range despite the growing demand in the real estate sector.
“We don’t intend to increase our price, P50,000 to 70,000 per square meter. We purposely intend to maintain stable prices. Continue to improve our products. Next year, we don’t intend to grow, [but we want]to improve the value of our products. We want to provide as many facilities as possible. Never mind if our sales doesn’t go up,” Consuji further said.
As a whole, DMCI Holdings is expecting lower core earnings this year since it unloaded some of its stake in Maynilad Water Services Inc. It also forecasted a dip in its full-year nickel operations.
Unlike core profit, net income includes one-time gains or losses.
Madelaine B. Miraflor