SM continues to top Metro condo market

MANILA, Philippines - SM Development Corp. (SMDC) again garnered the top spot in Metro Manila’s competitive residential condominium market. According to a recent Colliers International Philippines report, SMDC sold the most number of Metro Manila residential condominium units and attained the highest amount in terms of sales value during the first half of 2011. This continues the trend of SMDC topping the list for the past two years as cited by similar Colliers studies.

Based on the Colliers report, SMDC sold 4,117 residential condominium units from January to June 2011 worth 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 currently has in its portfolio 15 residential projects, 14 of which are in Metro Manila and one in Tagaytay City. Six projects namely Berkeley Residences, Chateau Elysee, Mezza Residences, Field Residences, Grass Residences, and Sea Residences are ready for occupancy.

This year, the company launched two of its latest projects, Mezza II Residences, which is located at the corner of Aurora Boulevard and Guirayan Street in Quezon City and is very near SM City Sta. Mesa, and M Place @ Ortigas, located along Meralco Avenue in the heart of the Ortigas Commerical Business 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.