DMCI Homes, the property arm of Consunji-led DMCI Holdings Inc., will be spending P3 billion this year for the development of residential projects in Metro Manila.

In turn, DMCI Homes managing director Alfredo Austria told reporters Tuesday evening that they expect sales to reach P8 billion this year, nearly double the P4.3 billion it made in 2006.

Of the P3 billion set aside for expansion this year, Austria said P1.5 billion will go to the development of Tivoli Gardens in Mandaluyong City, a cluster of six high-rise towers with about 24 to 28 residential levels each.

The firm's other projects include the mixed-use development Township Central in Taguig City, which will occupy 86 hectares.

"This will be complemented by a community commercial area that will feature retail and service shops, while a portion of the development is also dedicated to institutions like schools and churches," Austria said.

Its mid-rise residential developments, meanwhile, are Riverfront Residences and Rosewood Pointe, both in Taguig City.

Austria said all of its residential projects will be finished by mid-2009.-GMANews.TV