DMCI Holdings Inc. projects positive outcomes in 2024 after a relative good result last year, with challenges partly offset ball-time high coal shipments and off-grid energy sales, and record output from its nickel mine.
“Overall, we expect the DMCI group to deliver another resilient performance this year,” said Isidro Consunji, chairman and president of DMCI Holdings, whose business interests include construction, real estate, mining, energy generation and water distribution.
Consunji said the sanguine outlook for this year stems from a projected easing of inflation, stabilizing interest rates, a slowdown in China’s economy that could put a lid on commodity prices, and growth in the domestic energy market.
He said the government’s handling of infrastructure projects also appears to be a positive factor. He added that improved scheduling and payment processes for these projects are expected to hasten construction activities, a development that could have ripple effects across various sectors of the economy.
In the real estate sector, particularly the mid-segment, Consunji noted signs of recovery. “One of our projects, Solmera Coast, is doing extremely well. In less than five months, we have sold out 74 percent of our launched units,” he said.
Located in San Juan, Batangas, Solmera Coast is the first beachfront property project of DMCI Homes. As of September 30, 2023, it yielded P6.8 billion in reservation sales for the real estate company.
Lower revenue, however, pushed down DMCI’s net profit in the nine months to September to P20.02 billion from P27.63 billion in the year-earlier period.
