SMDC topped condo market in 2nd half of 2011

The Sy family-led SM Development Corp. is still Metro Manila’s top residential condominium property developer with a 24-percent market share of all units sold in the second half of 2011, based on a research by property consultant Colliers.

Citing a study done by Colliers International Philippines, SMDC announced Tuesday that it kept the number one rank in this property survey since 2009.

The property industry sold more than 25,000 units from July to December last year, of which SMDC accounted for the biggest share of more than 6,000, based on the Colliers research.

“This trend continues for the entire 2011, where the Metro Manila condominium market was characterized by strong competition as 145 residential towers, more or less 50,000 units, were launched,” the SMDC said.

To continue to meet the demand of its various market segments, SMDC said in the statement that it would launch new projects for 2012 in Makati, Bicutan, Pasay, Quezon City, Mandaluyong and Taguig.

SMDC also announced that it would build expansion towers for Jazz Residences in Makati, Wind Residences in Tagaytay and Field Residences in Sucat, Parañaque. Doris C. Dumlao