DMCI Homes, the first real estate company in the country to be given the highest recognition of Quadruple A license, will launch its first project in Cebu this year.
The Kalea Heights is envisioned to be a high-end mid-rise condominium community with resort-inspired amenities. It will rise along Good Shepherd Road in Banawa, Barangay Guadalupe.
“We believe that the DMCI Homes brand can do well in the competitive Cebu market. There’s wider acceptance of condominium living in the area and our projects offer great value for money,” DMCI Homes president Alfredo R. Austria said in a statement on Tuesday, March 19, 2019.
The Kalea Heights is among 10 projects that DMCI Homes will launch this year. These projects have a combined estimated cost of P104 billion in 2019.
To finance the project launches, DMCI Homes has earmarked P17.9 billion in capital expenditures, up by 23 percent year-on-year from P14.5 billion in 2018.
Project funding will come from a mix of internal funds (including cash flows generated from the project) and bank borrowings.
DMCI Homes, the more popular name of DMCI Project Developers, Inc., is the real estate unit of DMCI Holdings, Inc. Its quadruple A license, which was issued by the Philippine Contractors Accreditation Board (PCAB), allows it to qualify to be invited to foreign bids.
Other projects scheduled for launch in 2019 are the Cameron Residences and The Cresmont in Quezon City; Parama Residences and Sonora Garden Residences in Las Piñas City; Sovanna Towers and Allegra Garden Place, both located in Pasig City; and The Camden Place and Sage Residences located in Manila and Mandaluyong City, respectively.
DMCI Homes will also launch Belleza Towers to strengthen its presence in Davao City, where it has an existing development called Verdon Parc.
Since it started in 1999, DMCI Homes has launched a total of 73 projects. (Ventures Cebu)