MANILA – Leading mid-segment developer DMCI Homes reported a 49-percent increase in its Luzon land bank from 65.1 hectares to 96.9 hectares after acquiring properties in Batangas, Bulacan, Laguna and Pampanga provinces.
With the expanded land bank, DMCI Homes plans to develop new formats such as leisure, condotel and township projects.
“We recognized a demand for leisure properties and saw it as an opportunity to expand our product line. By offering quality and best value in this market, we hope to duplicate the success of our core residential line,” DMCI Homes president Alfredo Austria said in a statement Tuesday.
Austria said leisure residences are designed for buyers who want to invest in premium properties that provide attractive returns.
Scheduled for launch this month, a condotel project in San Juan town, Batangas will be owned by individual investors who will then rent out their units to guests.
This business model allows the company to generate revenues from both the sale and rental of the units.
Buyers, in turn, can use the unit as a vacation home and receive a share in the rental revenue, which can help offset the cost of ownership.
The leisure sub-brand also includes a nature park in Laguna and a mountain resort in Benguet.
DMCI Homes has earmarked PHP18.6 billion for its 2023 project development and land acquisitions, an 18-percent upturn from PHP15.8 billion the previous year.
From January to March, its capital spending rose by 27 percent from PHP3.3 billion to PHP4.2 billion, which mostly went to project development. (PNA)
