SM Development Corp., the residential unit of property developer SM Prime Holdings Inc., said it expects to generate P22 billion from two newly-launched residential condominium projects at the Mall of Asia complex in Pasay City.
SMDC executive vice president Jose Mari Banzon said in an interview the strong demand for residential projects within the Mall of Asia complex encouraged the company to launch two new projects, the three-tower S-Residences and four-tower Shore Residences 3, within the area.
“With the success of our previous resort-inspired residential developments in MaA complex, we find that it is the perfect time to launch the modern sleek S-Residences and Shore Residences 3- the project,” Banzon said.
S-Residences offers about 2,000 units with sales value of P7 billion. The project is now 75 percent pre-sold with turnover slated by August 2020. Shore Residences 3, on the other hand, will offer a total of 5,000 units with total sales value of P15 billion.