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DMCI Homes says on track to complete 10 residential buildings by year end

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ABS-CBN News

<p>MANILA - DMCI Homes said Tuesday it is ramping up development and set to complete 10 residential buildings by year end after employing &#x27;operational changes&#x27; as the pandemic halted operations.</p><p>&quot;The pandemic really battered our productivity. Our projects got delayed by one to three months because of the 76-day work stoppage in the first semester. Since we follow the percentage-of-completion method for revenue recognition, our booked revenues contracted on lower construction accomplishments,&quot; said DMCI Homes president Alfredo Austria.</p><p>DMCI Homes said it employed operational changes, expanded onsite barracks capacity to accommodate more workers and offered bike loans to employees.</p><p>With total combined units at 4,088, the ten buildings to be delivered this year include Mulberry Place, Lumiere Residences, Calathea Place, Sheridan Towers, Alea Residences, and Oak Harbor Residences - which is the company’s first premium residential project.</p><p>DMCI Homes said it expects P13.9 billion in sales from the ten buildings, of which over 3,500 units were sold to date.</p><p>DMCI Homes recorded a 68-percent surge in third-quarter net income to P1 billion from P626 million the same quarter last year on lower construction costs and the P5.7-billion total bookings made in the quarter.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/10/20/dmci-holdings-3q-net-income-down-on-weaker-energy-construction-water-businesses">DMCI Holdings 3Q net income down on weaker energy, construction, water businesses</a></li>	<li><a href="https://news.abs-cbn.com/news/05/28/18/dmci-homes-grows-land-bank-by-41-percent">DMCI Homes grows land bank by 41 percent</a></li>	<li><a href="https://news.abs-cbn.com/business/07/14/20/dmci-slashes-capex-preserves-cash-as-virus-drags-growth">DMCI slashes capex, preserves cash as virus drags growth</a></li></ul><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/nRDA6cMS7MQ?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>DMCI Homes said Tuesday it is ramping up development and set to complete 10 residential buildings by year end after employing 'operational changes' as the pandemic halted operations.</p>

DMCI Homes said Tuesday it is ramping up development and set to complete 10 residential buildings by year end after employing 'operational changes' as the pandemic halted operations.