By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
First Posted 03:45:00 05/10/2009
A DECADE after making that big leap from just building homes and condominiums to marketing and selling them, the company bearing the initials of David M. Consunji has cemented itself as a force to reckon with in the real estate business.
Since making the crossover in 1999, DMCI Homes has built and sold 12,000 housing units, of which more than 60 percent are resort-themed, mid-rise projects at the fringes of the metropolis’ financial centers.
DMCI Homes has 12 projects in the pipeline this year, which will make 2,800 units available for sale – mostly in the P1.5 million to P2.5 million price range.
“People appreciated our efforts to come up with well-built, good-looking homes and condominiums that fit right into the low to upper middle class market [those that could pop between P2 million and P5 million per unit],” said Alfred R. Austria, Managing Director of DMCI Homes. “We just took our passion to build and this helped us stand out from the crowd.”
Taking advantage
There have been other construction firms that also took the real estate development path, but only DMCI Homes was able to take full advantage of its strengths in engineering and construction to become one of the industry’s big boys.
“Our boss has always told us there was no point in staying in a business if we are not the best in what we are doing. This drive towards excellence has served as well,” said Austria.
DM Consunji Inc. did not look at property development as just a sideline to keep its engineering and construction divisions busy after being idled by the property bust in 1998. It looked at it as a money spinner.
Its property division was named DMCI Homes because it wanted to attract buyers who would look at its products as something they would care to live in and not just to invest in.
This is why all of its mid-rise projects are enclosed in gated communities, which evoke the security and privacy found in traditional housing subdivisions; 40 percent of their projects’ footprint is open and green spaces and recreation areas with Bali- and Thai-inspired resort themes. The structures are just five stories high, up to 16 units to a floor and its products are mostly sold on RFO or ready for occupancy basis. Its first project was Lake View Manors in Taguig City. It was an instant hit but an eye opener as well.
“We built it to fit the budget of a regular office worker, so we kept the fixtures and unit sizes smaller. We were surprised that most of our buyers were spending to upgrade their units and the parking lot was filled with late model vehicles. We felt this was a market that was under the radar of property developers,” said Austria.
Sales surge
In the second wave of its mid-rise projects from the Hampstead Gardens in 2001 to East Ortigas Mansions in 2003 to Mayfield Park in 2004, DMCI saw its sales surge to record levels reminiscent of the real estate boom in the 1990s (the company averages 70 to 100 units per project each month).
But even if DMCI Homes has apparently hit its groove in the business, Austria said the company continued to look for ways to improve its performance by conducting regular surveys of current clients and prospective buyers just to make sure if they were doing things the right way.
“Our engineering pedigree gives us a different mindset in approaching the business. We give priority to workmanship and customer satisfaction over pesos and centavos,” said Austria who cited DMCI’s landmark projects notably the CCP complex, Mactan Shangri-La Hotel in Cebu and the Istana Palace in Brunei.
DMCI Homes cut loose with its next wave of projects – Raya Garden Condominiums in Paranaque (2006); Rosewood Pointe in Taguig (2006); Riverfront Residences in Pasig (2007); and Royal Palm Residences in Taguig (2008) – that have raised the bar for other property developers.
Online marketing
Aside from the building, Austria said DMCI Homes also took pains to make its projects as transparent and accessible to buyers through the Internet.
It is arguably the first real estate developer whose floor plans, building dimensions and designs, prices and financing schemes are available on the web.
“We’ve always believed that keeping secrets from buyers is no way to do business. Buyers should know and get what they paid for,” said Austria.
Austria said the company has perfected its craft with most buyers immediately associating resort-themed, mid-rise building communities with DMCI Homes even though other older real estate firms have since taken the same route.
Who would have guessed that somebody who built chicken houses for the Bureau of Animal Industry would end up as the master in resort-inspired homes for middle class Filipinos?
Source: Inquirer.net
Philippine Daily Inquirer
First Posted 03:45:00 05/10/2009
A DECADE after making that big leap from just building homes and condominiums to marketing and selling them, the company bearing the initials of David M. Consunji has cemented itself as a force to reckon with in the real estate business.
Since making the crossover in 1999, DMCI Homes has built and sold 12,000 housing units, of which more than 60 percent are resort-themed, mid-rise projects at the fringes of the metropolis’ financial centers.
DMCI Homes has 12 projects in the pipeline this year, which will make 2,800 units available for sale – mostly in the P1.5 million to P2.5 million price range.
“People appreciated our efforts to come up with well-built, good-looking homes and condominiums that fit right into the low to upper middle class market [those that could pop between P2 million and P5 million per unit],” said Alfred R. Austria, Managing Director of DMCI Homes. “We just took our passion to build and this helped us stand out from the crowd.”
Taking advantage
There have been other construction firms that also took the real estate development path, but only DMCI Homes was able to take full advantage of its strengths in engineering and construction to become one of the industry’s big boys.
“Our boss has always told us there was no point in staying in a business if we are not the best in what we are doing. This drive towards excellence has served as well,” said Austria.
DM Consunji Inc. did not look at property development as just a sideline to keep its engineering and construction divisions busy after being idled by the property bust in 1998. It looked at it as a money spinner.
Its property division was named DMCI Homes because it wanted to attract buyers who would look at its products as something they would care to live in and not just to invest in.
This is why all of its mid-rise projects are enclosed in gated communities, which evoke the security and privacy found in traditional housing subdivisions; 40 percent of their projects’ footprint is open and green spaces and recreation areas with Bali- and Thai-inspired resort themes. The structures are just five stories high, up to 16 units to a floor and its products are mostly sold on RFO or ready for occupancy basis. Its first project was Lake View Manors in Taguig City. It was an instant hit but an eye opener as well.
“We built it to fit the budget of a regular office worker, so we kept the fixtures and unit sizes smaller. We were surprised that most of our buyers were spending to upgrade their units and the parking lot was filled with late model vehicles. We felt this was a market that was under the radar of property developers,” said Austria.
Sales surge
In the second wave of its mid-rise projects from the Hampstead Gardens in 2001 to East Ortigas Mansions in 2003 to Mayfield Park in 2004, DMCI saw its sales surge to record levels reminiscent of the real estate boom in the 1990s (the company averages 70 to 100 units per project each month).
But even if DMCI Homes has apparently hit its groove in the business, Austria said the company continued to look for ways to improve its performance by conducting regular surveys of current clients and prospective buyers just to make sure if they were doing things the right way.
“Our engineering pedigree gives us a different mindset in approaching the business. We give priority to workmanship and customer satisfaction over pesos and centavos,” said Austria who cited DMCI’s landmark projects notably the CCP complex, Mactan Shangri-La Hotel in Cebu and the Istana Palace in Brunei.
DMCI Homes cut loose with its next wave of projects – Raya Garden Condominiums in Paranaque (2006); Rosewood Pointe in Taguig (2006); Riverfront Residences in Pasig (2007); and Royal Palm Residences in Taguig (2008) – that have raised the bar for other property developers.
Online marketing
Aside from the building, Austria said DMCI Homes also took pains to make its projects as transparent and accessible to buyers through the Internet.
It is arguably the first real estate developer whose floor plans, building dimensions and designs, prices and financing schemes are available on the web.
“We’ve always believed that keeping secrets from buyers is no way to do business. Buyers should know and get what they paid for,” said Austria.
Austria said the company has perfected its craft with most buyers immediately associating resort-themed, mid-rise building communities with DMCI Homes even though other older real estate firms have since taken the same route.
Who would have guessed that somebody who built chicken houses for the Bureau of Animal Industry would end up as the master in resort-inspired homes for middle class Filipinos?
Source: Inquirer.net
