PROPERTY developer SM Development Corporation (SMDC) on Tuesday launched the three-tower Green 2 Residences project in Dasmariñas, Cavite as the latest addition to its portfolio of “university town” developments.
The project is located near three of Dasmarinas’ most populous universities—De La Salle University Dasmariñas, De La Salle Health Sciences Institute, and Emilio Aguinaldo College Cavite.
SMDC expects the 1.6-hectare Green 2 Residences to be “much larger” than the preceding Green Residences along Taft Avenue, Manila, which sold at an average of P1.9 million per unit in 2011, and is now valued on average at P2.7 million per unit.
Green 2 Residences will feature WiFi-ready study areas, a gym, lap pool, multi-purpose lawns, a function room, and lounges, and will house a retail strip for the convenience of its student tenants. The first tower of the development will have 19 storeys.
“Green 2 is ideal for both end users and property investors looking for a good yield. University towns tend to attract transients among students and faculty members looking for spaces to rent for proximity and convenience,” SMDC said in a statement.
“Real-estate investors can take advantage of the growing student market in Dasmariñas as they can lease their units to students who might look for alternatives to the dormitories and room rentals in the area, many of which are insufficient when it comes to catering to their demands,” the developer added.
SMDC, the residential arm of SM Prime Holdings, has developed similar condominiums across universities, such as Sun Residences in Manila, Blue Residences and Berkeley Residences along Katipunan Ave. in Quezon City, Eton Residences along Aurora Boulevard in Quezon City, as well as Mezza and Mezza II Residences in Sta. Mesa.