SMDC completes M Place tower

The SM group’s residential property arm, SM Development Corp., has completed the third of its four-tower M Place @ South Triangle (MPST) residential development in Quezon City which will cater to a broader market.

In a statement, SMDC said it recently held the topping out ceremonies for Tower C of the MPTC project, which covers an area of almost a hectare between Panay Avenue and Mother Ignacia Avenue. Topping out refers to the overall completion of a building’s structure as ceremonies are usually held when the last beam is placed at the top of the building.

Tower C is a 27-storey, 778-unit structure ideal for young professionals and start-up families.

This residential project offers affordable studio, one-bedroom and two-bedroom units with sizes ranging from 15.65 square meters to 42.7 sqm. The units are priced at between P1.3 million and P3.6 million, with monthly amortization of as low as P6,500 per month.

MPST’s Towers A and B were topped out in May and August last year, respectively, and are more than 90 percent sold, SMDC said. On full completion, the development will have a total of 3,437 units.

The project is close to commercial establishments along the Timog and Tomas Morato area, as well as hospitals such as Capitol Medical Center and St. Luke’s Hospital. SMDC said the development was ideal for young professionals with an active lifestyle, being situated beside a transport hub, especially the Quezon Avenue MRT station.

The construction of Tower C started in July 2012 and  turnover of the units to buyers is scheduled  to begin in the third quarter of 2014, SMDC said.

Tower D, currently under construction, is scheduled for completion in the second quarter of 2015.

The project will have a Savemore store and various shops and services. It will also feature amenities that include two adult swimming pools, two kiddie pools, function rooms, a children’s playground and a jogging path set amid a tropical garden.