SMDC to build P2B 40-story condominium

MANILA, Philippines—Fast-growing residential developer SM Development Corp. is investing around P2 billion to build a new 40-story condominium along Aurora Boulevard in Quezon City, near its first and now fully completed residential project.

Mezza II Residences – the 13th under the SM Residences brand – offers residential units at a price of between P1.2 million and P2 million ahead the targeted completion by the fourth quarter of 2014. Unit sizes would be between 15.65 and 59.33 square meters, the company disclosed to the Philippine Stock Exchange.

Construction of the project will start in October. Mezza II Residences will have an estimated gross floor area of 59,500 sqm and bring to the market about 1,324 residential units.

“The inauguration of Mezza II Residences further attests to SMDC’s firm commitment to provide five-star quality homes in prime locations at affordable price points. Our latest residential condominium project follows the proven business model that SMDC has effectively designed and implemented over the years,” said SMDC vice chairman and chief executive officer Henry Sy Jr.

“With the launching of Mezza II, we expect to better serve our market, which has been consistent in warmly receiving our offerings,” he added.

Mezza II project director Sandro Javier said the proximity of Mezza II to its predecessor, Mezza Residences – SMDC’s first high-rise condominium – affirmed the company’s belief and confidence in the progress and development of that area in Quezon City known for its vibrant community that includes major schools, hospitals and commercial establishments.

Javier said SMDC would make sure that, just like in all other SMDC projects, Mezza II offers “high-quality, secure and reliable” units and amenities.

The project is located at the corner of Aurora Boulevard and Guirayan Street in Quezon City and right beside the fully completed Mezza Residences.

Mezza II occupies 2,592 square meters of lot area near SM City Sta. Mesa and the V. Mapa Station of the Light Rail Transit (LRT) 2 Line.

Mezza II Residences’ amenities include swimming pools, a sky lounge, function rooms, residential lobby with reception and lounge, four levels of parking spaces, a stand-by power generator, and commercial and retail establishments.

SMDC now has 13 residential projects under its SM Residences brand and two under the M Place brand.