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SM Group named best residential developer in PH

/ 10:32 PM September 19, 2013

The SM Group, owned by the country’s richest man, has bagged an award from a London-based finance magazine.

In its 9th annual real estate survey, Euromoney Magazine named the SM Group the “best residential developer in the Philippines.”

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Euromoney editor Clive Horwood, according to a company statement, said “the winners of this year’s Euromoney survey are those that exhibited the ability to innovate and make best use of the inherent strengths of their organization.”

“Key players in real estate banking, development, investment management and advisory services have recognized SM Group as a market leader,” he added.

The Euromoney real estate survey recognition is regarded as the benchmark award for the global property industry.

This year’s awarding process, which began in March, involved the canvassing of the opinions of senior real estate bankers, developers, investment managers, corporate end-users and advisory firms in more than 70 countries.

With more than 2,000 responses, it was the biggest ever Euromoney Real Estate Poll, the statement showed.

The SM Group takes its roots from retail as founder Henry Sy Sr. opened a shoe store in 1958.

It is now among the largest consumer-based conglomerates in the Philippines with diverse interests in retail, banking and property development.

“It (the award) affirms the long-term vision of SM in the property business where our dedication lies in knowing what our markets want and need so that we can address them accordingly,” Henry Sy Jr., vice chair of SM Investments Corp. and SM Development Corp., said in the statement.

“Innovation is one of our group’s core values. It keeps our work exciting, trying new things while keeping our feet firmly on the ground,” Sy added.

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SM Development is the group’s middle income residential condominium developer.

Euromoney Magazine, founded in 1969, is the flagship title of London-based financial communications company Euromoney Institutional Investor PLC.

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TAGS: award, best residential developer, Business, euromoney, SM Group
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