Henry Sy INQUIRER FILE PHOTO
MANILA, Philippines—Tycoon Henry Sy-led SM Development Corp. has scaled up its interest in Taguig’s residential property market with the launch of the third tower of SM Grace Residences.
This residential project occupies two and a half hectares of land along Cayetano Boulevard, near C5 road in Taguig City. The four-tower development will add about 3,500 units spread over a gross floor area of around 160,000 square meters (sqm) which will be constructed over three to five years.
For the third tower, one-bedroom units are available starting at P1.97 million per unit for the typical 22-sqm unit.
“We are pleased with the very warm reception from buyers of the first two towers of Grace Residences. Hopefully we will see more of the same for the next two towers of this project. Grace continues to be a highly attractive proposition since it is just minutes away from our newly opened SM Aura Premier, as well as from the Makati central business district and the Ortigas Center. Due to its strategic location, some of the country’s top schools, hospitals, restaurants, shopping and entertainment venues are within easy reach,” SMDC president Jeffrey Lim said in a press statement.
The Grace Residences project is envisioned to have lush open spaces and landscaped areas; swimming pools and pool deck areas; a basketball court, a children’s playground and a meditation garden. The project will also have a retail area for residents’ convenience.
The SM group is currently consolidating its property units, including SMDC, into a single publicly listed vehicle under SM Prime Holdings Inc.