Metro Manila (CNN Philippines, June 13) — Property developer DMCI Homes is spending ₱18.6 billion this year, 18% higher than a year ago, as it aims to cement its presence in 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 disclosure on Tuesday.
DMCI Homes is set to introduce its condotel project in San Juan, Batangas this month.
The format would allow investors to make their units available for rent 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,” the company said.
DMCI Homes said its Luzon land bank expanded by 49% to 96.9 hectares after it acquired properties in Batangas, Bulacan, Laguna, and Pampanga.
