DMCI Homes turns 10
Banking on its construction expertise fortified by its solid commitment to serve the needs of starting Filipino families with modest income, DMCI Homes marked its 10 years in the business with the unveiling of its new residential projects during its anniversary celebration, dubbed "Sparkling 10: A Decade of Radiance," held on Thursday at DMCI Homes Corporate Center in Makati City.
"Today, DMCI Homes is marking its 10th year in the industry and that indeed calls for celebration," DMCI Homes president Isidro Consunji said in his opening remarks. "Such a milestone could not have been possible without your [DMCI's business partners] unyielding support to our company, and for this, I would like to extend my sincerest appreciation."
To provide quality homes to the underserved middle-income earners, construction giant DMCI embarked on putting up its own property-development unit-DMCI Homes-10 years ago when the real-estate market was still in shambles from the Asian financial crisis, which began in 1997.
"During the time, we saw that many of them [midincome earners] traveled up to two hours just to get to work or stayed in a city dwelling without their families. And they had very little choices as far as housing is concerned," recalls Alfredo Austria, DMCI Homes managing director. "We knew that with the help of our business partners, we could do something to change this situation and offer something better-something that was previously beyond their reach."
And so the property division was conceptualized in 1999 and, since then, has continued to register remarkable achievements in the industry. Even DMCI Homes' competitors were asking why priced its units so low, given the high quality it provided.
"They failed to appreciate that we were providing a service, and if we priced just to maximize short-term profit, then our target market could not afford to buy our products," Austria explained. "We also knew that customer satisfaction should be the priority if we are to assure continuity and sustainability of the business."
To date, almost 9,000 families have already moved in to DMCI Homes' properties.
Over the last six months, the company was able to accomplish significant milestones ahead of their delivery schedule. These included the completion and turnover of Honolulu, the first building of Ohana Place, a Hawaiian-inspired residential community in Alabang, in October 2009; Rosewood Pointe's Jade Tower opening in August 2009; and the clubhouse completion of Magnolia Place, the latest residential village in Tandang Sora, Quezon City.
Not resting on its laurels, the property developer continues to strengthen its leading industry position by coming up with a new lineup of projects, namely, DMCI Homes include Cedar Crest, The Redwoods and the Iris Tower at the Tivoli Garden Residences. These form part of the development of both ongoing and new projects worth P5 billion.
"More and more families can now enjoy the benefits of a DMCI home, which are mostly serviced and themed communities offering resort-style living. Our preselling phase is relatively shorter, assuring homebuyers that their money's worth has really taken shape, and that they'll be able to enjoy the benefits of owning their first home faster than expected," Austria said.
Taking advantage of the numerous developments in Taguig, Mandaluyong and Quezon City, DMCI's new residential projects are targeted at starting Filipino families with modest incomes.
"Our target market of young families and upgraders from the area don't have to worry about acquiring their first home," said DMCI Homes marketing manager Cherrie Lyn Cruz.
Given the new projects' attractive advantages, including flexible payment terms offered with partner-banks, she noted that they could now get "the home that they deserve."
The first building of Cedar Crest-Amaranth-is scheduled for turnover by May 2011 followed by Chamomile in July of the same year. The target completion and turnover date for The Redwoods will be in March 2011.
Meanwhile, handover of the units for the Iris Tower-the fourth building at the Tivoli Garden Residences-is scheduled in March 2013. Presently, the first tower, Bauhinia, is home to more than 200 families who are enjoying the relaxed lifestyle in their high-rise address, especially with the charming Sky Gardens. The second tower, Eugenia, is set for turnover this month.