DMCI Homes set to continue with controversial development

Businessworld - DMCI Project Developers, Inc. (DMCI Homes), the wholly-owned property arm of listed DMCI Holdings, Inc., is likely to move forward with Torre de Manila, its controversial condominium project near the Rizal Monument even as it looks to tackle the project’s violation of Manila’s local zoning code.

“I think we’ll push through [with Torre de Manila]. The Manila city council just had a few comments on the project, which we will try to address,” Isidro A. Consunji, DMCI Holdings president and chief executive, told reporters following DMCI Holdings’ annual stockholders meeting in Makati City on Wednesday.

He declined to elaborate, however, if there will be significant changes to the condominium’s plans moving forward.

DMCI Homes is currently building Torre de Manila, a resort-inspired condominium on Taft Avenue in Manila’s Ermita district.

Cultural activists protest that the proposed 41-storey development would mar the view of nearby Rizal Monument as depicted in artist’s renderings on the project’s Web site.

Following a recent investigation, the Manila city council ruled that DMCI Homes violated Ordinance No. 8119, which adopts Manila’s land use plan and zoning regulations, despite previously securing required building permits.

“Torre de Manila is only allowed a maximum floor area ration (FAR) of 4. However, the floor area of Torre de Manila is approximately 66,256 square meters. Based on their plans and after the construction of the condominium, the FAR [of Torre de Manila] will be 7.79,” the Manila city council said in a resolution dated July 12.

The same resolution recommended the filing of a case against DMCI Homes for the said zoning violation. Meanwhile, Mr. Consunji defended Torre de Manila’s viability, noting modest demand resulting from the area’s underserved status.

“We’re now in the process of introducing the project to the market, and so far, initial response [in terms of pre-sales] is quite encouraging. The area is really underserved -- there are a lot of offices, hospitals, and government buildings, but not so much residential,” Mr. Consunji said.

DMCI Homes has allotted P8 billion in capital expenditures to bankroll its property projects this year, to be supported by the company’s growing land bank.

Last March, DMCI Homes acquired three lots on Sheridan Street, Mandaluyong City previously owned by food firm Swift Foods, Inc. for P500.22 million.

This boosted the developer’s land portfolio by an additional 11,116 square meters, earlier reports said.

DMCI Homes saw its first-quarter net income surge by 81% to P405 million from P224 million last year, brought about by a 51% uptick in housing sales to P1.7 billion from P1.1 billion last year due to the completion of earlier-sold units in Metro Manila.

The developer’s parent, DMCI Holdings, was incorporated in 1995 as a holding company to consolidate the Consunji family’s businesses, component companies, and related interests, including investments in construction and mining apart from real estate.

The listed company earned a net income of P2.67 billion for January to March, up 17.62% from P2.27 billion last year as profit despite declines in its flagship coal and construction units.

Revenues, mostly from coal sales and construction contracts, rose by 20.35% to P13.01 billion versus P10.81 billion, year on year, while cost of sales and services grew by 31.19% to P8.79 billion from P6.70 billion in the same period last year.

For more details on Torre de Manila and other DMCI Homes projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

DMCI Homes' Illumina Residences Manila primed for RFO market, readies new parking bldg

The Illumina Residences Manila stands apart from the rest of the structures in the community located along V. Mapa and P. Sanchez streets in Sta. Mesa. | Zoom

(The Philippine Star)  - The Illumina Residences Manila stands apart from the rest of the structures in the community located along V. Mapa and P. Sanchez streets in Sta. Mesa. It is the only high-rise structure that’s towering at 32 story ensuring that future homeowners will be able to enjoy an unobstructed view of downtown Manila no matter the time of the day. The building was ready for occupancy since last April 2011, making it a top choice for young families who are looking for a ready-to-move in property.

With the project almost 80 percent sold as of June 2012, the remaining available units also compliment the urban lifestyle of Illumina Residences Manila. Offered are two-bedroom and three-bedroom units with gross floor areas of approximately 57 sqm to 101.50 sqm. These generous unit cuts are made with the start-up or growing families in mind. A new parking building has been constructed to further serve the needs of these families by satisfying the parking demands in the project. The new three-level steel carpark structure has 82 units; 66 of which are for sale to future homeowners.

Aside from the height, the simple, yet highly-modern façade of the building creates a stunning skyline within the neighborhood. Illumina Residences Manila lights up beautifully at night, courtesy of its unique blue rope lights and wall washouts which create an interesting outline when seen from afar. A closer look of the building and one is sure to be awed by the pretty glow it casts – truly a modern touch to the otherwise minimalist atmosphere of the new condominium. Add to that, the driveway is strategically lit-up to welcome homeowners to a modern living environment.

This modernity is mimicked into the grand drop-off area and sophisticated lobby that’s manned by an able concierge. The set-up is a prelude to the vacation lifestyle that’s currently being promoted in this new development. Illumina Residences Manila aims to provide a home setting that will remind one of a relaxing stay at a favorite hotel or resort.

Aside from the tastefully designed lobby, a lounge area and function hall that’s visible on the ground floor also imbibes the metropolitan atmosphere of the whole development.

Small home tasks such as laundry and garbage disposals are not a problem with available facilities and services. A property management office will also take charge of building upkeep and 24 hour security for one’s peace of mind. Add to that are other conveniences such as management of a convenience store and water refilling station, move-in assistance for future residents, taxi call-in service, utilities application and payment assistance.

And since it’s from DMCI Homes, one will be able to enjoy the developer’s pioneer single-loaded hallway design: homes open to a landscaped atrium instead of a neighbor’s door, and ensuring natural illumination and free-flowing air – cutting on energy wastage.

DMCI Homes is a company of innovative builders and engineering experts that develop modern day living solutions for urban families. Each of its developments is built with world-standard craftsmanship borne from almost 60 years of expertise in the construction and development industry. Its corporate philosophy is anchored on a deep understanding that buying a home is more about investing in a better way of living. Thanks to feature-rich, ideally located communities, residents can finally enjoy a more comfortable and meaningful way of life where they can feel real good to be home. To know more about DMCI Homes, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

Swift Foods moves to sell land to DMCI

March 23 2012, Mutual Fund Philippines - SWIFT FOODS, Inc., has moved to sell three lots in Mandaluyong City worth P500.22 million to real estate firm DMCI Project Developers, Inc., a disclosure to the Philippine Stock Exchange on Friday showed.

Following a board meeting, the company’s board of directors reportedly authorized the sale of three parcels of land along Sheridan St. to the Consunji-led developer.

The three lots, which are covered by transfer certificate of title numbers 136988, 22622, and 22623, have a total land area of 11,116 square meters (sq. m) valued at P45,000 per sq. m.

DMCI Project Developers, a wholly-owned unit of listed DMCI Holdings, Inc., currently has 26 housing developments located in Metro Manila, Rizal, and Boracay.

The property developer already has two projects in Mandaluyong City: the three-tower Dansalan Gardens on Boni Avenue, and the five-tower Tivoli Garden Residences on Coronado St.

Swift Foods, for its part, was incorporated in 1994 to assume RFM Corp.’s business of manufacturing, marketing and distributing processed and canned meat products, poultry products, and commercial feeds.

The company posted another net loss for the January to September period last year worth P69.91 million.
Shares of Swift Foods rose by 0.76% to P0.133 on Friday from P0.132 at its previous close. — Franz Jonathan G. de la Fuente

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

‘Father of construction’ continues to build with passion

By: Theresa S. Samaniego   Philippine Daily Inquirer

David M. Consunji is a “builder” first and foremost.

Although the 90-year-old construction magnate has successfully made a mark in the local real estate industry that he is now heralded as the father of contemporary construction industry, Consunji continues to stress that he is a builder, who derives satisfaction not from making money out of his projects, but from putting up structures and real things that brought real benefits to other people.

It was this passion that enabled Consunji to give the Philippine construction business a whole new meaning, transforming the industry from being just an occupation or a livelihood to a passion, a calling.

“One must love his work and be proud of it, and this, combined with hard work, will allow him to achieve skills and work quality,” says Consunji in an exclusive interview with Inquirer Property.

Concrete mixer
But what really tested his mettle and his dedication to be a builder happened when he was about to start his business: when he bought a one-bagger concrete mixer (sometime in 1949) for P500, as Consunji then believed that to be a builder, he must have a concrete mixer.
While the mixer was being refurbished, a prominent builder offered him P3,500 for the mixer, which was five times the value of what he originally paid. Though a tempting offer, Consunji decided to keep the mixer instead as this was his tool to build, adding that if he sold the mixer, he would only earn once and may miss out on the opportunities that lay in the future for him.

That was, according to Consunji, a defining moment because then, it was no longer a question of financial gains.

To quote his memoir: “To me, accepting [the] offer would have been like a violinist or a flutist selling his instrument—treating it like a commodity to buy and sell. And of course, that would be unthinkable for a genuine musician. The concrete mixer was my equivalent of a violin. It was the tool which formed the basis of my calling.”

Apprenticeship

THE CHURCH of the Holy Sacrifice was completed by DMCI in the mid-’50s.

Consunji recalls that prior to starting DM Consunji Inc., he apprenticed “for four months without pay to be a builder, gradually learning about real estate and land development.”

He credits his cousin Ricardo Consunji, who had 10 years of experience in the construction industry ahead of him, for teaching him the rudiments of the trade—how to make an estimate, how to make a summary of items of work for a project, how to prepare for a bid and how to manage the construction projects.
Following his apprenticeship at Sta. Clara Construction, Consunji took on several more jobs and headed numerous construction projects, and at the same time, taking on small projects independently.

Life-changing decision
By 1950, Consunji finally made a life-changing decision: to “do construction work on my own.”
During the early ’50s, the company, a sole proprietorship that started off as David M. Consunji Civil Engineer Contractor, has begun bidding and taking on contracts, the first of which was for a timekeeper’s booth of oil firm Stanvac (now known as ExxonMobil), to be followed with the construction of chicken houses for a government agency.

It was only in 1954 that the company was incorporated to become DM Consunji Inc., and the rest, as they say, is history.

DM Consunji Inc. was then at the forefront of shaping the Makati Central Business District since the ’60s, building the old Monterey Apartments, the Rizal Theater, and Tower One and Exchange Plaza. The company also built the Shangri-La Hotels in Makati, Mactan and Boracay, Manila Hotel, The Westin Philippine Plaza, the Asian Hospital Medical Center, among other distinct landmarks.

City skyline and landscape
The company further redefined the city skyline and landscape, when DMCI constructed the Ortigas Center financial district, the South Metro Manila Skyway, LRT 1 North Extension, Tarlac-Pangasinan-La Union Toll Expressway. DMCI even had the privilege to flaunt its expertise in foreign shores by building monumental projects like the Istana Urul Iman (Sultan’s Palace in Brunei).

The enterprising visionary in Consunji led to successful joint ventures and forays in other sectors, including its partnership with Metro Pacific Investment Corp. for the Maynilad Water Services Inc., the west zone water concessionaire in Metro Manila.

THE COCA-COLA plant in Tacloban is Consunji’s first big contract.

Its mining affiliates, the Semirara Mining Corp. is the largest coal mining and exploration company in the country, while DMCI Mining Corp. is actively engaged in ore and mineral mining and exploration.

DMCI Power Corp. is meanwhile engaged in the design, construction, investments and operation of power plants, operating subsidiaries, namely: the Sem-Calaca Power Corp. and the Masbate Power Corp., which began operations this year.

DMCI Homes, established over a decade ago, has already dominated its category of resort-inspired residences. The company has also successfully expanded its portfolio to include house and lots, and high-rise condominium units.

Consunji’s accomplishments
The successes now still being enjoyed by DMCI and all its subsidiaries and affiliates indeed speak highly of the accomplishments of Consunji, who have poured all his passion in the art of building these landmark structures and building up people’s own successes.

And his accomplishments did not go unnoticed as the visionary founder earned various accolades from the construction and engineering sectors both here and abroad.

Among his citations were “Icon of the Philippine Construction Industry” presented by the Philippine Constructors Association; an “Honorary Fellow” of the Philippine Institute of Environmental Planners; an “Atsumi Awardee” conferred by the International Federation of Asian and Western Pacific Contractors’ Association; a University of the Philippines Alumni Association “Lifetime Distinguished Achievement Awardee; and “The Outstanding Filipino Awardee” (Tofil) from the Philippine Jaycee Senate and The Insular Life Assurance Co.

The key to his success is no secret, for Consunji would openly say that the many different elements that make a strong and sound structure would include concrete and steel, hard work, honesty and dedication.
“Property development is a lifelong venture into the future of land use and construction. Skills and integrity plays an important role. [For] me, a quality structure is something to be admired and learned from. The quality structures that we build serve as milestone in the struggle of humanity for better structures,” Consunji says.

“I would like to feel that somehow DMCI has been one of those who improved our standards of project completion through improved quality. I am hopeful that DMCI shall be remembered as among the builders who contributed to the quality of our structures,” he concludes.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

For more details on DMCI Homes projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

DMCI Homes eyes 20% growth

DMCI Homes expects to sustain this year the strong growth it posted in 2010.

Last year, the company registered a 71-percent jump in gross sales to P14.7 billion from P8.6 billion a year before, cementing its position as the leader in the mid-rise segment of the condominium market.

“DMCI is a Triple A builder-developer backed by its mother company, the DMCI Group. We are proud to say that we have proven ourselves in the industry and to our valued clients, whom we owe for our unprecedented income growth of more than 300 percent since we started 10 years ago,” said DMCI Homes director for finance and operations Joseph Ramil Lombos.

For 2011, Lombos said the company is targeting a 20-percent growth rate or a gross sales revenue of P18 billion.

This, he said, would be achieved with the launch of at least eight new projects in key areas around Metro Manila.

At present, the main challenge for the company is to maintain a certain inventory for sales, eyeing available areas for redevelopment as potential additions to its land bank, he said.

“We have identified certain properties including parcels of land formerly housing manufacturing buildings and warehouses as future sites of our projects. Since we have defined our focus toward medium-rise projects, we are looking for three- to five-hectare lands that can accommodate such type of development,” Lombos added.

For more details on DMCI Homes and Condos, you may contact Reby Ramirez @ +63 919.699.3572 / +63 922.883.9308 / +63 916.4044.555 / +632 404-4534 or e-mail her @ reby_ramirez@yahoo.com.

Lastly, FYI for related information on the new real estate law, RA 9646, please proceed to www.RA9646.com, the online repository of updated information on Real Estate Service Act of 2009 (RESA).

source: Philippine Daily Inquirer, April 6 2011

Rhapsody Residences: DMCI Homes strengthens presence in the south

Moving into a new home is one of the highlights of a family’s young life. It signifies the move towards independence; an upgraded lifestyle that allows them to pursue a new phase as a family and enjoy all the advantages that come with having a place of their own.

Since the norm in urban living is now the condo residence, DMCI Homes, recognized as the residential resort specialist, focuses on the middle-income market of young families who deserve a home where they can live everyday within a nurturing environment.

Inspired by such a concept is DMCI Homes’ latest project in the south: Rhapsody Residences. The company’s first residential development to rise in Muntinlupa City, the prime property where this project is located has been on the market for a long time.

The developer’s reputation and its experience of more than 55 years in the construction business, clinched the deal to finally acquire the rights for the property.

Reynaldo Salazar, DMCI Homes director for business development, said that they waited for the opportune time to develop the former industrial site. With the company’s goal to establish its presence all over Metro Manila, the completion of Rhapsody Residences will serve as another milestone for the triple-A builder-developer.

“This area in Muntinlupa, like several other sites in Metro Manila, is definitely ready for redevelopment,” Salazar said.

“When we look for properties, we look for those that are ready for redevelopment.

These places in Metro Manila are too expensive already to be used as warehouses or factories, so either they move out of the country for operations, or they transfer to the suburbs where they can operate more efficiently.”

The immediate vicinity of the property includes other residential developments ranging from small villages to gated prime villages, as well as a few industrial sites, adding a quaint charm on the typically quiet neighborhood. It can be accessed through the East Service Road via the Sucat Interchange for those coming from Manila, Makati, or Quezon City.

Planned as a Neo-Asian development, the project design will convey elements of Japanese culture, from the building architecture to the amenities and landscaping, said Alma Florendo, project development head.

Sprawled on 3.8 hectares of prime land, it will consist of nine medium-rise, low-density condominium buildings featuring outstanding architectural designs that exude comfort and style, providing the finest residential lifestyle.

More than a hectare will be allotted to free spaces and amenities that promote health well-being. The amenities are: kiddie, lounge, lap pools, playground, jogging path, picnic area, basketball court and activity lawn, and a fitness gym.

The buildings will also feature the DMCI Homes trademark of single-loaded corridors and garden atriums, to allow natural light and ventilation to permeate throughout the buildings.

Aside from the usual amenities and first-rate building features, the entire development will be professionally maintained by a Property Management Office (PMO) team.

For details on Rhapsody Residences and other DMCI projects, contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63919.699.3572 or e-mail her at reby_ramirez@yahoo.com.

Source: Manila Bulletin, 24 November 2010

RA 9646, popularly known as Real Estate Service Act ( RESA ) has been approved for implementation when its Implementing Rules and Regulations ( IRR ) was published on July 24 2010 at Philippine Daily Inquirer and Philippine Star. For details on the RESA Law, visit http://www.ra9646.com/, the central repository of all updates on RA 9646.

DMCI builds to complete the Boracay experience

Boracay is a place that should be experienced full-on. No cutting corners, and definitely no holding back. After all, Boracay is considered as one of the best beaches in the world. What it brings is more than just its white sands. It is the over-all experience, the dream vacation that relaxes and reinvigorates the spirit.

Alta Vista de Boracay takes that vacation to a higher level — literally — with its elevated hillside location on Barangay Yapak, the north end of Boracay. From here, one can take in the views of pristine waters and lush fairways. The comfort of staying in Alta Vista de Boracay is just as amazing.

This Southeast Asian-inspired luxury resort (considered as one of the biggest on the island) combines first-class comfort, casual elegance, and personalized service within its 3.8-hectare property. Its 17 elegant buildings house 500 well-appointed rooms, featuring spacious studio and loft suites.

The amenities make the resort a community in itself, with recreation and business features within easy access of each other. For guests taking a breather from the urban jungle, the infinity pool, spa, and steam room will relax them.

Aside from its breathtaking views and exclusivity, the DMCI resort has convenient access to the shorelines of three popular Boracay beaches: White Beach, Puka Beach, and Punta Bunga. It offers Island Concierge services that help guests enjoy water sports activities to make their vacation fun: island hopping, speed boating, fly fishing, jet skiing, parasailing, water skiing, wakeboarding, tube riding, reef walking, scuba diving, and kite boarding.

Guests who prefer to enjoy themselves on dry land can sing in the videoke room, access the Internet, play golf, go zip lining, or have fun horse-back riding.

“That is exactly what we had in mind when we established Alta Vista de Boracay. The idea is to pamper and indulge our guests with facilities and amenities that will make their Boracay experience unforgettable,” said Reynaldo Salazar, DMCI Homes Director for Business Development and concurrent president of DMCI PDI Hotels. The property is a condotel project by developer DMCI Homes. To improve its hotel service, DMCI launched the wholly-owned subsidiary DMCI PDI Hotels Inc.

“We are proud to say that we are enjoying repeat customers here. Because we are situated on a hillside, they welcome the peace and quiet here. No loud music and crowds to interrupt them,” Salazar said.

Corporate travelers will find the resort perfect for business and leisure.

There are banquet services, room packages, function rooms, and business services. The resort has an 80-seater function room and access to the Boracay Ecoville and Convention Center

For details on Alta Vista de Boracay and other DMCI projects, contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.

Source: Manila Bulletin, 06 December 2010

RA 9646, popularly known as Real Estate Service Act ( RESA ) has been approved for implementation when its Implementing Rules and Regulations ( IRR ) was published on July 24 2010 at Philippine Daily Inquirer and Philippine Star. For details on the RESA Law, visit www.ra9646.com, the central repository of all updates on RA 9646.