Leading mid-segment developer DMCI Homes posted an 11-percent growth in nine-month sales and reservations from P13.7 billion to P15.3 billion on the back of recovering momentum and higher average selling price.

Loosening quarantine restrictions allowed the company to expand its sales and marketing activities while demand for bigger units and prime locations account for the price uptick.

DMCI’s top-selling projects include The Oriana in Quezon City, Allegra Garden Place and Satori Residences in Pasig City, Alder Residences in Taguig City and The Camden Place in Manila.

“We are seeing some improvement in demand but the real estate industry, and our market in particular, will take more time to rebound,” said DMCI Homes president Alfredo R. Austria.

“We expect sales and reservations to trend higher as the economy safely reopens and financial uncertainty tapers off for our target buyers,” he added.

On a standalone basis, DMCI Homes recorded a 692-percent upsurge in nine-month net income from P505 million to P4 billion mainly due to higher construction accomplishments and down payment recognition from new accounts.

Excluding a non-recurring loss of P609 million last year primarily for sales cancellations for a project and a nonrecurring gain of P640 million from the remeasurement of deferred tax liabilities as a result of the CREATE law, consolidated core net income soared 202 percent from P1.1 billion to P3.3 billion.