Henry Sy’s condo projects enjoy brisk sales
The residential construction arm of the Sy family saw a 22 percent jump in reservation sales in the nine months to September this year on robust sales of projects within the Mall of Asia complex in Pasay City.
SM Development Corp. sold a total of 12,579 units valued at P35.5 billion. This represented a 20 percent growth from the 10,520 units disposed off in the same period a year ago worth about P29.1 billion.
The increase was primarily driven by strong sales of S Residences, Shore 2 Residences and Coast Residences.
SMDC contributed P18.7 billion or 32 percent to SM Prime Holdings’ consolidated revenues. This was 10 percent higher than the previous year due to brisk sales of ready for occupancy units from Princeton Residences, M Place Residences, Mezza II Residences and Jazz Residences.