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By Likha C. Cuevas, Reporter
THE real-estate arm of DMCI
Holdings Inc. has launched several flagship residential projects in
Metro Manila and the island-resort of Boracay aimed at middle-income
homebuyers.
On the sidelines of the DMCI
Homes launch on Wednesday, the company’s managing director Alfredo
Austria said the property unit would spend about P3 billion for the
initial phase for 5 of its 6 flagship projects this year.
The funds to be shelled out would
go to high-rise condominiums Rosewood Pointe and Cypress Towers in
Taguig, Tivoli Garden Residences in Mandaluyong and midrise
condominium Riverfront Residences in Pasig City. Also included in
the roster is DMCI Homes’ condominium-hotel and residential
community in Boracay called Alta Vista de Boracay.
The biggest development project
of the company is the 86-hectare Township Central where Rosewood
Pointe and Cypress Towers are located. The project is a mixed-use
development designed to contain both residential villages like
Mahogany Place and medium and high-rise buildings.
According to Austria, DMCI
decided to target the middle-income market because it is the
“under-served” sector in the housing industry and the company
does not see any direct competitor in the area. He said other
developers are concentrating on the low-income or the high-income
brackets of the market.
“We are not new in the game but
we are just silently building and selling [residential units] the
last 6 years,” he said. “What we offer is premium quality
product at the right pricing.”
Austria cited that since the DMCI
group already owns a construction firm, DMCI Homes does not have to
factor in a large or separate profit margin for construction and
development.
“Thiss gives us the edge in
terms of pricing,” the executive said. “We can offer good
quality condo units within the city.”
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