SM Development Corporation (SMDC), the residential arm of SM Prime Holdings Inc., is targeting to launch 14,000 residential units this year.
So far, 8,000 units have been launched and the goal is to reach 14,000 by the end of 2015, said Jose Mari Banzon, SMDC executive vice president.
“We already launched about five projects . . . So, we have another five in the pipeline . . . Depending on the take-up—it depends on how many units will be sold—then we will launch the next,” he said.
Banzon noted that residential sales are considerably higher compared with last year.
The best-selling projects are the Air Residences in Makati, The Shore Residences near the Mall of Asia and the Fame Residences in Mandaluyong.
The company is now working on a premier plan focusing on upscale developments. Part of the plan is to launch the second phase of the Fame Residences this year.