DUBAI: SMDC, a real estate developer in the Philippines, remains bullish in 2016 with 11 new projects on the pipeline to be launched this year, said Vince Lubrin, the company’s international property specialist.
Citing a “robust growth” in economy and a “strong demand” in real estate, SMDC projects its sales for 2016 to be at Ph 60 billion.
Lubrin told The Filipino Times the projects will be located in central business districts (CBDs), near MRT’s, universities and hospitals and beside SM malls.
“We are also targeting to open our affordable house and lot projects this year. We have started a soft selling/pre-launched, on flexible investment terms, of our newest addition to the Roxas Boulevard skyline, our newest project, Coast Residences which will be overlooking the famous Manila Bay sunset,” Lubrin said.
Lubrin said appreciation of SMDC properties has been very satisfactory investment-wise.
He cited SMDC’s Shell Residences at SM Mall of Asia which was launched in 2011 and now has an ongoing turnover. “People who invested in 2011 bought one-bedroom units with balcony for only Ph2.2 million.
“Now it has appreciated by almost 50 percent and with the ongoing development in the Mall of Asia complex and entertainment city, the projected value of the units in 5 years is seen to increase by 40 percent; in 10 years’ time, it’d probably be around 80 percent,” Lubrin said.