DMCI to build, design Bicutan-Alabang Skyway project

MANILA, Philippines - The construction subsidiary of DMCI Holdings Inc. secured the contract to design and build an elevated expressway connecting Bicutan, Parañaque to Alabang, Muntinlupa City. D. M. Consunji Inc. already signed a design and construction contract for the second stage of the South Metro Manila Skyway project with Citra Metro Manila Tollways Corp., DMCI Holdings Inc. said in a disclosure to the Philippine Stock Exchange (PSE). Worth P8 billion, the project will be linked to the South Luzon Expressway, allowing motorists to and from both destinations to enjoy lesser traffic congestion. In the same disclosure, the company also entered an agreement with Yeeloofa Development Corp. to build a P3.48 billion two-tower 168 Residences located in Binondo, Manila within 42 months or three and a half years. Each tower, which has 30 levels each, features different configurations for commercial and residential units. Besides offering covered floor areas, each tower will have an underground water and sewerage treatment plants, parking areas, and swimming pools. DMCI said earnings for the first nine months last year fell by 30 percent as it imposed accounting adjustments in Maynilad Water Services Inc. (MWSI), its water business venture with Metro Pacific Investments Corp. DMCI, known for building SM Megamall, posted earnings worth P1.21 billion during the period, lower than the P1.73 billion during the same period a year earlier. However, revenues P14.15 billion, 52.3 percent higher than the previous year’s P9.29 billion. Shares of DMCI Holdings Inc. rose P0.50 to P4.25 during Monday’s trading at the PSE. - GMANews.TV