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Sunday, August 31, 2014

SMDC turns over 2,500 units at Makati, Mandaluyong high-rise projects

Henry Sy-led SM Development Corp (SMDC) has delivered more than 2,500 units in two condominium projects in Makati and Mandaluyong.

In a statement, the residential arm of Henry Sy-led SM Prime Holdings Inc said it has turned over 1,077 units at Tower C, Jazz Residences in Makati; and 1,460 units at Tower 3 of Light Residences in Mandaluyong.

“We are pleased to welcome the new residents of Jazz Residences, and Light Residences. We remain committed to bring conveniences and synergies from our retail, banking and property businesses at their doorstep,” SMDC president Jeffrey Lim said.

Jazz Residences is a four-tower vertical village in Bel-Air Makati. It has its own mall offering commercial and food establishments, and an SM Hypermarket.

Located at the corner of EDSA and Madison Street, Light Residences is a three-tower residential project linked to the EDSA Boni MRT station.

Slated to open in the fourth quarter of 2014, Light Residences will also offer a mall at the first and second floors of the podium, featuring dining and entertainment areas. It will have three cinemas and a wide array of restaurants to choose from as well as a Savemore Market.

SMDC is slated to launch six towers consisting of 11,000 units by yearend, fuelling its sustained recovery.

The rebound of the residential business and the strength of mall operations drove SM Prime's profit, rising 12 percent year-on-year to P9.80 billion in the first half of the year.

- Interaksyon

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