SMDC to roll out 5 new projects

MANILA, Philippines - SM Development Corp. (SMDC), the residential development arm of the Sy-owned holding firm SM Investments Corp., is rolling out five new projects this year to take advantage of strong demand from homebuyers.

In a statement, SMDC said it has lined up a new string of product launches with many of its developments already sold out. The move is in line with its goal to provide affordable, five-star homes for every Filipino. 

With a portfolio of 14 residential projects, the company has already completed its first high-rise development, Mezza, strategically located in Sta. Mesa, Manila. It is set to turn over to customers the last cluster development of mid-rise project Chateau Elysee in Bicutan within the first half this year.

Also scheduled for turnover this year are Berkeley Residences in the first quarter, Grass Residences Tower 1 in the middle of the year, Field Residences Tower 2 and 3 in the first half and second half this year, respectively.

Among its projects in the pipeline is  Wind Residences, a nine-tower, 20-story condominium building in Tagaytay City with an estimated development cost of P12 billion. The project will offer a total of 7,758 units when completed in 2015.

To give its investors a sneek peak of its developments, SMDC will open today (Jan. 27) a first of its kind showroom, believed to be the largest in the country to date. The two-level SMDC Grand Showroom, covering almost 8,000 square meters of space in the Mall of Asia Complex, features an amphitheater, a very spacious lounge, an entertainment deck and a 3,000 sqm showroom area – all for the convenience of its visitors.

Bernadette Ramos, SMDC assistant vice president for marketing,said the showroom should serve as a one-stop shop for potential homebuyers.“With the SMDC Grand Showroom, we are laying out all options in front of them, making it easier for them to weigh one residential property over the other. This, we believe, will help our buyers make the best and most informed decision in acquiring their dream homes.”

The Grand Showroom currently features eight model units from the condominium projects Light Residences, Sun Residences M Place, Shell Residences, and Jazz Residences, ranging from semi-upgraded studio, upgraded one-bedroom to two-bedroom units with balcony, and an upgraded studio combination type.

SMDC has earmarked as much as P40 billion this year for its domestic projects as well as initial foray into China’s growing residential market. Of the total, P18 to P20 billion will go to residential projects here while up to three billion renminbi will be channeled to the development of two apartments in Xiamen and Jinjiang where sister firm SM Prime Holdings has existing shopping malls.

The Xiamen building will rise on a two-hectare lot while the Jinjiang apartment will sit on more than four hectares of land.

SMDC recently raised P11.7 billion from a stock rights offering of 1.83 billion shares.