SMDC to offer affordable houses in provinces
MANILA, Philippines – SM Development Corp.(SMDC), the housing development arm of Henry Sy’s SM Prime Holdings Inc., is set to bring attainable luxury living to the provinces as it expands its product offering to include economic housing.
SMDC executive vice president Jose Mari Banzon said the company aims to contribute to narrowing the huge gap in the Philippine housing sector which currently has a backlog of over 5.5 million, according to the Housing and Urban Development Coordinating Council (HUDCC).
“We would like to offer the cosmopolitan lifestyle to as many Filipinos to allow them to live in lifestyle districts anchored on the synergies of SM’s property developments,” Banzon said.
As such, SMDC will launch its first economic housing project in Central Luzon next year.
The gated development will offer house and lots, well-appointed amenities, and a commercial de-velopment right beside it, providing residents a luxurious yet affordable housing community.
To help address the housing gap, SMDC is also focusing on building medium rise buildings (MRBs) outside Metro Manila.
The planned MRB developments would be mostly located in SM’s mall complexes that would provide residents convenience with a supermarket, department store and other dining and entertainment venues next door.
SMDC has already launched its very first MRB project outside of Metro Manila. Located within the SM City Marilao complex in Bulacan. Cheer Residences provide affordable living to the people in the province.
“The key is to make our offerings as affordable as possible and at the same time, give our residents luxury-like living in all our developments,” Banzon said.
Last October, SMDC also launched Vine Residences, located within the complex of SM City Novaliches. The condominium project has a central park with sunken gardens, swimming pools, a Nature’s Park and a camp site.
SMDC’s condominiums offer access to lifestyle centers anchored on SM’s malls that tap into the group’s heritage in retail, and also provide access to offices, meeting and entertainment venues.
Banzon said the market remains huge especially in the affordable segment.
Prior to the aggressive entry of SMDC into the housing market in 2007, Henry Sy Jr., the eldest son of businessman Sy, had a vision to make housing more affordable for Filipinos without sacrificing quality.
This gave birth to SMDC’s aggressive move into vertical housing development. In just 10 years, SMDC was able to launch a total of 28 projects, and has sold more than 83,000 units.
SMDC executive vice president Jose Mari Banzon said the company aims to contribute to narrowing the huge gap in the Philippine housing sector which currently has a backlog of over 5.5 million, according to the Housing and Urban Development Coordinating Council (HUDCC).
“We would like to offer the cosmopolitan lifestyle to as many Filipinos to allow them to live in lifestyle districts anchored on the synergies of SM’s property developments,” Banzon said.
As such, SMDC will launch its first economic housing project in Central Luzon next year.
The gated development will offer house and lots, well-appointed amenities, and a commercial de-velopment right beside it, providing residents a luxurious yet affordable housing community.
To help address the housing gap, SMDC is also focusing on building medium rise buildings (MRBs) outside Metro Manila.
The planned MRB developments would be mostly located in SM’s mall complexes that would provide residents convenience with a supermarket, department store and other dining and entertainment venues next door.
SMDC has already launched its very first MRB project outside of Metro Manila. Located within the SM City Marilao complex in Bulacan. Cheer Residences provide affordable living to the people in the province.
“The key is to make our offerings as affordable as possible and at the same time, give our residents luxury-like living in all our developments,” Banzon said.
Last October, SMDC also launched Vine Residences, located within the complex of SM City Novaliches. The condominium project has a central park with sunken gardens, swimming pools, a Nature’s Park and a camp site.
SMDC’s condominiums offer access to lifestyle centers anchored on SM’s malls that tap into the group’s heritage in retail, and also provide access to offices, meeting and entertainment venues.
Banzon said the market remains huge especially in the affordable segment.
Prior to the aggressive entry of SMDC into the housing market in 2007, Henry Sy Jr., the eldest son of businessman Sy, had a vision to make housing more affordable for Filipinos without sacrificing quality.
This gave birth to SMDC’s aggressive move into vertical housing development. In just 10 years, SMDC was able to launch a total of 28 projects, and has sold more than 83,000 units.
