Mid-segment developer DMCI Homes increased its Luzon land bank by 49 percent from 65.1 hectares to 96.9 hectares after acquiring properties in Batangas, Bulacan, Laguna and Pampanga.
The company said with the expanded land bank, it plans to develop new formats such as leisure, condotel and township projects.
“We recognize 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,” said Alfredo Austria, DMCI Homes president, in a statement.
The company said its Solmera Coast which is an Asian tropical-inspired condotel project in San Juan, Batangas under the DMCI Homes Leisure Residences sub-brand is scheduled for launch this month.
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, a business model which the company described as something where it can generate revenues from both the sale and rental of the units.
Buyers of units, 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.
“DMCI Homes Leisure Residences is for buyers who want to invest in premium properties that provide one-of-a-kind experiences and attractive returns,” Austria added.
Aside from Solmera Coast, the leisure sub-brand will include a Japanese-inspired nature park in Laguna and a mountain resort in Benguet.
Earlier, DMCI Homes earmarked P18.6 billion for its project development and land acquisitions this year, an 18 percent increase from last year’s P15.8 billion.
For the first quarter of the year, the company’s capital spending also rose by 27 percent from last year’s P3.3 billion to P4.2 billion, which mostly went to project development.
