SM Development Corp., the property arm of Henry Sy’s SM Group, has launched the next phase of Grass Residences, a five-hectare condominium complex in Quezon City.
Phase two of Grass Residences, which will have sales value of approximately P10 billion, involves the development of the fourth and fifth tower of the five-tower Grass Residences.
Jan Spencer Chavez, SMDC assistant vice president for project development, said in an interview with reporters on Wednesday that phase 2 of Grass Residences will involve as much as 3,900 units, valued at exactly P9.7 billion. Phase 1 of the development has three towers with 6,000 units.
Scheduled for construction by the first quarter of next year, phase 2 is expected to be completed by the third quarter of 2017, Chavez said.
Phase 2 of Grass Residences is a 40-storey podium that will offer units for P2.4 to P2.5 million.
SMDC also recently launched Trees Residences located also in Quezon City. This development located in Novaliches.
Studio, one-bedroom and two-bedroom units for Trees Residences are available starting at P1.2 million to P1.8 million.
SMDC currently has 14 ongoing residential condominium projects all over Metro Manila. It also has Wind Residences in Tagaytay.
For next year, the property firm is gearing up to launch about five projects and even more in the next few years, an SMDC official also said on Wednesday.