DMCI Homes eyes P30B from Kalea, plans more Cebu projects

By Beatriz Marie D. Cruz, Reporter

DMCI Homes, Inc. expects its four-tower project, Kalea Heights, in Cebu City to generate around P30 billion in revenue, the Consunji-led developer said.

“Here in Cebu, we’ve observed that other developments’ approach to solving urban lifestyle issues is different from ours,” DMCI Group Chairman Isidro A. Consunji said in a media briefing last week.

“I think our approach is superior in terms of value, features, open space, and so forth.”

Kalea Heights, located along Good Shepherd Road in Barangay Guadalupe, is a 4.6-hectare residential condominium project.

This project is DMCI Homes’ first venture into Cebu’s real estate market.

The total investment for the project is around P24 billion, according to the real property developer.

In its first phase, DMCI Homes plans to launch 600 units. The units will likely be turned over starting December 2029, according to the company.

The first phase will launch the Leia Building, a 41-storey tower with one-, two-, and three-bedroom units ranging from 29.5 square meters (sq.m.) to 88.5 sq.m.

The property offers a refined, laid-back lifestyle that balances urban convenience with nature-inspired tranquility, DMCI Homes said.

The site will be divided into four districts — Dawn, Dusk, Summit, and Azure.

The price range for the units is around P5.7 million to P13.4 million, the company said.

The property features 3.6 hectares of open space, the largest among Cebu’s condominium complexes and all DMCI Homes properties, according to the company.

Residents will also have access to amenities such as swimming pools, jogging and bike trails, a pet park, an amphitheater, playing courts, open lounges, and a central plaza. A laundry station and convenience store are also available on-site.

A four-meter-wide sky bridge connects the towers and provides access to the 1.5-hectare sky parks on the roof decks, offering 360-degree views.

The sky parks feature lush landscapes and panoramic vistas, including mountain and sea views.

The company also said the property will include eco-friendly features like a water reuse facility and a ride-share carpool program.

Kalea Heights is an ideal location due to its proximity to Cebu’s business hubs, namely 8 Banawa Centrale, Paseo Arcenas, Cebu IT Park, and nearby shopping centers like One Pavilion Mall, Ayala Malls Center Cebu, and SM Seaside City Cebu, according to the company. It has access to essential services like schools and hospitals.

“For investors, Kalea Heights’ central location translates to high rental demand,” DMCI Homes said.

The growing housing demand in Cebu, coupled with its robust economy, makes the province an ideal location for DMCI Homes’ expansion, it added.

“We have acquired at least one other location in Cebu City, and we’re also studying a few others. We hope to stay here for a long, long time, doing projects continuously within Cebu,” DMCI Homes President Alfredo R. Austria told BusinessWorld in an e-mail.

Like Manila’s real estate market, the Cebu market has been in a slow recovery from the pandemic, said DMCI Homes Vice-President for Marketing Jan O. Venturanza.

“The trend is developers are selling more developments in the upscale category rather than the affordable and mid-income segments. So, I think that will hold for maybe a few more years,” he told BusinessWorld.