DMCI Homes plans 4,000-unit socialised housing project in Cavite

DMCI Homes is developing a 4,000-unit socialised housing project in Cavite, with units priced around P1.8 million each. The developer is also preparing a similar project in Valenzuela and reporting strong sales of ready-for-occupancy properties.

DMCI Homes, the property arm of DMCI Holdings, Inc., is planning a 4,000-unit socialised housing project in Cavite as it opts to build its own developments rather than pay fees to comply with government housing requirements.

Company president Alfredo R. Austria told reporters on Wednesday that the Consunji-led developer is finalising government permits for the project. The first phase will offer units measuring 27 sq m each, priced at approximately P1.8 million under government regulations.

“It’s challenging because, how can it be affordable? What are the ways in design and construction? We really have to sharpen our pencils to reach that price [of P1.8 million],” Mr Austria said. He added that DMCI Homes also plans a socialised housing development in Valenzuela in the coming months.

Mr Austria noted that buyer behaviour has shifted, with end-users increasingly seeking ready-for-occupancy (RFO) units over preselling properties. About 60 per cent of DMCI Homes’ sales now come from RFO properties, which have become the company’s main source of cash for ongoing projects.

“During the pandemic or crisis, they hesitate to buy because it’s a big investment and a big commitment. They will wait and hesitate. But if they need it, they will buy it,” Mr Austria said. He singled out The Oriana, which became ready for occupancy at the end of July, as the company’s top-selling project.

DMCI Homes also provided updates on other developments. The Erin Heights has topped off structural construction and is 60 per cent sold. Its turnover is scheduled to begin in October 2027. The project will be about 150 metres from the planned Tandang Sora station of Metro Rail Transit Line 7.

Separately, DMCI Resorts, the company’s hospitality arm, is expected to complete the first two towers of its P7-billion Solmera Beach Park Resort by February 2027, with resident turnover targeted for August that year. The five-building project, named Matahari, Kartika, Bumi, Asri, and Nusa, is nearly 90 per cent sold out. Matahari will serve as the residential building, while the other four will operate as condotel buildings.