The Amaryllis - News in Manila Standard Today 090511

DMCI Homes ties up with Floirendo group

Manila Standard Today
September 05, 2011
by Jenniffer B. Austria

DMCI Homes Inc., the real estate unit of DMCI Holdings Inc., has teamed up with the Anflo Management and Investment Corp. of the Floirendo group to develop a residential condominium project in Quezon City.

DMCI president and chief executive Isidro Consunji said in a text message the joint venture partners would put up a “classy for affordable” residential project along E. Rodriguez in New Manila.

The project, to be called Amaryllis Residences, is a 22-storey condominium building, which will house 451 residential units complete with amenities and facilities like three parking levels, a 24-hour security system, fitness gym and function rooms.

The project is strategically located near a hospital, schools and main avenues like Edsa and Aurora Boulevard.

Anflocor owns the 4,764 square-meter land while DMCI Homes will handle the property development and marketing.

The project is expected to be completed in two years after groundbreaking.

Consunji earlier said that DMCI Homes had increased its reservation sales target this year to P18 billion from the original goal of P13 billion on the back of better-than-expected sales in the first six months of the year.

Reservation sales reached P10 billion in the first half of the year, up 45 percent year-on-year, on strong take up of housing projects such as La Verti Residences in Taft, Pasay City; Redwoods in Fairview, Novaliches; Siena Park in Bicutan, Paranaque; and Stellar Place in Quezon City.

Anflocor is owned the Floirendo group of Davao. It manages several companies that engaged in growing and exporting of bananas and pineapples, real estate development and leasing, beach resort operation and packaging.

Anflocor also has a joint venture projects with Ayala Land Inc. These are the P5-billion Abreeza project along J.P. Laurel Avenue in Davao City and a P2.5-billion development project in Cagayan de Oro City.

Both projects involve the construction of shopping mall, residential units, and office building that will cater to business process outsourcing companies.

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