SM property arm unveils four projects
Sy-led SM Development Corp. yesterday unveiled four new projects on top of a project launched just last month, in a bid to become one of the country’s top property firms.
The four new SM property projects are Jazz Residences near Jupiter Road in Makati, Sun Residences beside the Mabuhay Rotunda in Quezon City, Light Residences near Pioneer Street in Mandaluyong and Wind Residences on Emilio Aguinaldo Highway in Tagaytay.
“Our four new offerings affirm the company’s vision of becoming one of the leading residential developers in the country. We will end this year with 12 different offerings for our clients who may choose their homes from the best locations in the Metropolis [to as far as] Tagaytay City,” Roger R. Cabuñag, SM Development president, said.
Jazz Residences, a four-tower condominium which will occupy approximately 25,000 square meters (sq. m.) of land, will be built in four phases and each 41-storey tower will house 1,228 one- and two-bedroom units.
Sun Residences has a total land area of 11,832 sq. m. Two 43-storey towers will rise on the property, with each tower having 1,992 units divided into studio, one- and two-bedroom units.
The third new project, Light Residences, will have three towers, with the first tower having 40 floors offering 1,386 units. Towers two and three will have 39 floors each. The whole project will occupy 19,422 sq. m. of land.
Wind Residences is the only project outside Metro Manila. Located in Tagaytay, the project will occupy 15.45 hectares of land.
It will have 10 20-storey towers, with each tower offering 702 units.
Wind Residences will have a clubhouse, badminton and basketball courts, swimming pools, a children’s playground, and a jogging path, among others.
Last month, the SM property unit launched Princeton Residences on Aurora Boulevard in Quezon City, on top of seven ongoing projects.
SM Development is setting aside a budget of P10.4 billion next year, up from P7 billion spent this year.
Shares in the company tumbled by 1.23% or P0.05 to P4.00 apiece.
Roxas Land in joint venture
In a separate disclosure, the wholly owned property unit of listed Roxas & Co., Inc. has entered into a joint venture with VJ Properties, Inc. for the development of 57,972 sq. m. of property in Tagaytay.
Roxaco Land Corp. said the project would be a “boutique resort-type” residential subdivision with 54 lots, the sizes of which would range from 400 to 700 sq. m.
Roxaco Land’s other projects include the 88-hectare residential beach resort known as Peninsula de Punta Fuego, and the 61-hectare seafront property dubbed Terrazas de Punta Fuego. Both are located in Nasugbu, Batangas. -- KJRL
