SMDC leads in resd'l bldgs in Metro

MANILA, Philippines - SM Development Corp. (SMDC) , the residential development arm of retail tycoon Henry Sy’s SM Investments Corp., remained the top seller of residential buildings in Metro Manila in the first half of the year.

Based on a recent study by Colliers International Philippines, SMDC raked in the highest amount in terms of sales value, having sold 4,117 residential condominium units from January to June this year, worth around P9 billion. This translates to a 22 percent market share in terms of number of units sold in an industry with more than 90 players.

SMDC has been the country’s leading residential developer in terms of sales for the past two years, according to Colliers.

SMDC currently has in its portfolio 15 residential projects, 14 of which are in Metro Manila and one in Tagaytay City. Six projects – Berkeley Residences, Chateau Elysee, Mezza Residences, Field Residences, Grass Residences and Sea Residences – are ready for occupancy.

This year, the company launched two more projects, Mezza II Residences, located at the corner of Aurora Blvd. and Guirayan St. in Quezon City and very near SM City Sta. Mesa, and M Place @ Ortigas, located along Meralco Ave. in the heart of the Ortigas commercial district in Pasig City. M Place @ Ortigas is targeted towards young professionals working within the area, and offers added convenience due to its proximity to transportation hubs, malls and shopping centers.

For the rest of the year, SMDC is scheduled to launch three more residential condominium projects.