SM Development Corp., a subsidiary of property giant SM Prime Holdings Inc., revealed strong sales at its South Residences project in Las Piñas.
According to Therese Sonsing-Fernando, SMDC assistant vice president, the project is already around 60 percent sold since its launch on Sept. 2015.
She said the project, which has four towers with over 2,000 units, benefited significantly from its location beside the SM Southmall and a business process outsourcing office set to open by the end of the year.
Fernando said all 2,000 units had a sales value of about P6 billion.
Doroteo de Lima, SMDC senior manager for marketing, said this integrated approach helped lure buyers.
“For [residential condominium] investors, it’s an easier sell because they have an immediate market to whom they can rent out the property,” he said.
Fernando, meanwhile, added that most of the project’s buyers were from the southern part of Metro Manila, and from Las Piñas, in particular. She said there was potential to expand the project, however, no final decision has been made.
SMDC South Residences’ location along the Alabang Zapote road was also a key selling point given its proximity to transport infrastructure links like the South Luzon Expressway and Manila Cavite Expressway.
Units in the first two towers would be turned over to buyers early next year while the remaining units would be turned over in the first half of 2019, Fernando said.
Amenities include a grand lobby, swimming pool, landscaped areas and function rooms. The project also has 338 parking spaces for all four towers.
Units come in a variety of sizes. SMDC South Residences has one-bedroom units, which range from 20.7 square meters to 22.7 sqm, costing about P2.5 million each. It also offers larger two-bedroom units, at 36.5 sqm, with a cost of around P3.8 million each.
SMDC officials also noted a potential for leasing, since a large slice of the residential condominium segment was marketed as an investment.