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. With the expanded land bank, DMCI Homes plans to develop new formats such as leisure, condotel and township projects.
DMCI Homes president Alfredo Austria said: “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.” Scheduled for launch this June, Solmera Coast is an Asian tropical-inspired condotel project in San Juan, Batangas under the DMCI Homes Leisure Residences sub-brand.
Under the condotel format, the condominium units will be owned by individual investors, who will then rent out their units to guests through DMCI Homes Leisure Residences.
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. Aside from Solmera Coast, the leisure sub-brand will include a Japanese-inspired nature park in Laguna and a mountain resort in Benguet.
DMCI Homes has earmarked P18.6 billion for its 2023 project development and land acquisitions, an 18-percent upturn from P15.8 billion the prior year. From January to March, its capital spending rose by 27 percent from P3.3 billion to P4.2 billion, which mostly went to project development. (PR)