SMDC sets P18B capex for 2014December 13, 2013 12:22am
Source: gmanetwork.com
Residential development firm SM Development Corp. will be spending up to P18 billion in 2014 to launch two condominium projects and for land-banking activities.
SMDC president Jeffrey Lim said the firm will launch four projects in Metro Manila next year that will have a total of 11,000 units.
It will also launch up to two residential projects in existing developments.
“We see continuous strong demand for our projects and so we are launching new projects next year,” he said.
This year, SMDC launched Trees Residences in Novaliches and Phase 2 of Grass Residences near SM North Edsa, both in Quezon City.
It also launched Shore Residences in Pasay City and Breeze Residences along Roxas Boulevard in the southern part of Metro Manila.
The projects gave SMDC an additional 13,000 units of new inventory.
Property consultancy firm Jones Lang LaSalle earlier said it expects the supply of residential condominium units to peak in 2014 with 58,000 units expected completed.
From 2015 to 2019, however, supply will go down because of the number of units already built.
Jones Lang LaSalle said big property firms like SMDC, Ayala Land, Megaworld and DMCI, will still command a huge share of the market because of the number of projects they already have in Metro Manila.
SMDC is currently working on 17 residential condominium projects but is also planning to expand to China.
Delisted SMDC is expected to be consolidated under SM Prime Holdings Inc. along with Highlands Prime Inc. and SM Land Inc. — JDS, GMA News
Source: gmanetwork.com
Residential development firm SM Development Corp. will be spending up to P18 billion in 2014 to launch two condominium projects and for land-banking activities.
SMDC president Jeffrey Lim said the firm will launch four projects in Metro Manila next year that will have a total of 11,000 units.
It will also launch up to two residential projects in existing developments.
“We see continuous strong demand for our projects and so we are launching new projects next year,” he said.
This year, SMDC launched Trees Residences in Novaliches and Phase 2 of Grass Residences near SM North Edsa, both in Quezon City.
It also launched Shore Residences in Pasay City and Breeze Residences along Roxas Boulevard in the southern part of Metro Manila.
The projects gave SMDC an additional 13,000 units of new inventory.
Property consultancy firm Jones Lang LaSalle earlier said it expects the supply of residential condominium units to peak in 2014 with 58,000 units expected completed.
From 2015 to 2019, however, supply will go down because of the number of units already built.
Jones Lang LaSalle said big property firms like SMDC, Ayala Land, Megaworld and DMCI, will still command a huge share of the market because of the number of projects they already have in Metro Manila.
SMDC is currently working on 17 residential condominium projects but is also planning to expand to China.
Delisted SMDC is expected to be consolidated under SM Prime Holdings Inc. along with Highlands Prime Inc. and SM Land Inc. — JDS, GMA News