DMCI Homes, the real estate arm of the Consunji family, lined up seven projects with a total sales value of P305 billion, which are ready for launch once the demand picks up.
DMCI Homes said that while the property sector is saddled with oversupply problem, particularly on the middle-income market, it plans to focus on selling remaining inventories from recently-launched projects.
It also continues to offer flexible payment terms and restructuring options and expands rent-to-own program while strengthening its sales network through enhanced in-house and international efforts.
The launch of the seven pipeline projects depends on market demand and prevailing conditions, the company said.
“2024 was a challenging year for the real estate industry, but it allowed us to sharpen our focus,” said DMCI Homes president Alfredo Austria.
“We focused our efforts on strengthening our financial position, preparing for future launches and developing new products for underserved markets. As the market recovers, we are ready to roll out projects that offer strong value and quality,” he said.
DMCI Homes reported a net income of P2.8 billion in 2024, down 31 percent from P4 billion the previous year, as slower sales and fewer project launches during the pandemic continued to impact construction activity and revenue recognition.
Excluding one-time gains from land sales, core net income fell by 35 percent to P2.5 billion. Sales declined 22 percent as demand remained soft
The average selling price (ASP) per unit, meanwhile, rose by 18 percent, while price per square meter increased by 8 percent, mainly driven by elevated construction costs, the company’s shift toward more premium, centrally located developments and the sale of larger units.
The property firm unveiled residential condominiums in Pasig, Quezon City and Cebu last year. It also launched leisure developments in Baguio and Batangas.
It completed 11 buildings during the year, up from 7 in 2023, contributing to a rise in ready-for-occupancy (RFO) inventory.
These completions also supported improved collections, which strengthened the company’s liquidity and reduce debt.
“While our selling prices rose year-on-year due to rising construction costs and a shift toward more premium developments, they remain highly competitive given the quality and value we deliver,” said Austria.
Colliers Philippines earlier estimated the total value of unsold condominium units at P158 billion, up from P89.6 billion in 2023.
This was largely due to high-interest rate environment as well as exit of Philippine offshore gaming operators, it said.