DMCI Homes Inc. on Monday said it is into Cebu City’s booming condominium market and investing approximately P20 billion to develop a four-hectare property in Barangay Guadalupe.
“Cebu City’s robust economy and growing demand for quality homes make it an ideal location for our expansion,” Dennis Yap, company vice president for project development, said.
“We’re excited to introduce our signature resort-inspired condominiums to this bustling city and be part of its dynamic development,” he said.
With condominium living highly popular in Cebu, Yap expressed confidence the Cebuanos will appreciate DMCI Homes’ value-for-money offerings.
“We’re equally thrilled to introduce Cebu to the distinct DMCI Homes lifestyle, showcasing our proprietary Lumiventt® Design Technology, internet-ready units and RideShare carpooling service—just some of the innovative features we’re bringing to take condominium living to new heights in this vibrant market,” he said.
The decision to tap into the Cebu property market follows the company’s successful ventures in San Juan, Batangas and Tuba, Benguet in the previous years.
Yap said while the pandemic had temporarily halted their Cebu expansion, the opportunities in the Queen City of the South made it clear that moving forward with the plan would be the right decision.
“Cebu is a rapidly growing market with great potential,” Yap said. “We look forward to making a positive impact and contributing to the city’s growth.”
While DMCI Homes is new to Cebu’s property market, its sister firm, DM Consunji Inc., the construction company, has made its mark with several landmark projects in the city.
DMCI was also part of the Cebu Link Joint Venture, a consortium with Acciona and First Balfour that built the iconic Cebu-Cordova Link Expressway. Other landmarks built by DMCI in Cebu include SM Cebu, Shangri-La’s Mactan Resort and Spa, the Ayala Life Cebu office building and Ayala Center Cebu.
DMCI Homes said it also aims to make its mark in the city, backed by a sterling track record of completing 72 quality developments across Metro Manila, Laguna, Cavite, Baguio City, Boracay and Davao City, in its 25 years in the industry.
