DMCI Homes Inc., the residential development arm of DMCI Holdings, is aiming to double its sales to P20 billion in five years even as it expects to exceed sales and net income targets for 2010.

In a press briefing, DMCI Homes president Alfredo Austria said they are currently reviewing plans and inventories to chart a plan on how to achieve the five year target given to them by the parent company.

Austria said they may have to move into other markets to be able to achieve this target, noting that their young middle income market niche will not be enough. “We might have to go to other markets like the CDE,” he said.

DMCI Homes will also slowly shift to developing high rise residential condominiums although its current portfolio is dominated by middle rise buildings because of the difficulty in finding large pieces of land at lower prices.

Austria said the prohibitive cost of land within Metro Manila is prompting them to increase the density of their projects although they intend to ensure that their projects retain enough open spaces so the units will be well-ventilated and will have a lot of natural light. “We plan to sell this year around P10.5 billion worth of units but, as of now, we are exceeding our targets by 25 percent,” said Austria adding that they are also likely to hit or exceed the firm’s net income target of P1 billion in 2010.

DMCI Homes is planning to launch five projects in the second half of the year, in addition to the three projects it launched in the first quarter of 2010. Austria said they are spending P4.5 billion for construction this year and P5.5 billion in 2011.