DMCI Homes to spend P10B on expansion this year | ABS-CBN

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DMCI Homes to spend P10B on expansion this year

DMCI Homes to spend P10B on expansion this year

ABS-CBN News

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Photo from DMCI Homes Facebook page

MANILA - DMCI Homes on Friday said it would spend over P10 billion this year to fund its expansion, as sales in the first six months of the year grew 25 percent.

The developer will launch five projects in the second half to meet strong demand from middle-class buyers, DMCI Homes president Alfredo Austria said.

Residential sales and reservations grew 25 percent to 3,753 residential units in the January to June period from 3,011 during the same period last year, the company said.

Total reservation sales went up 39 percent to P13.5 billion, it added.

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Earnings for the period, however fell 59 percent to P708 million due to slower collections.

DMCI Homes shares were down 3.44 percent to P12.36 in noon trading.

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