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Real Estate News: SMDC upstages rivals
Biz Buzz
Philippine Daily Inquirer
First Posted 00:32:00 04/19/2010
http://politics.inquirer.net/politics/view/20100419-265100/Biz-Buzz

THE CLOSELY followed real estate industry survey of Colliers International Philippines was released recently, providing the snapshot of the local market for both buyers and sellers.

And lo and behold, the latest edition, which compiles 2009 data, showed that relative newcomer SM Development Corp. upstaged some of the most established brands in the industry by selling a total of 4,719 condo units last year. That's about 18 percent of the total number of condos sold in the country, meaning almost one in every five transactions made was for an SMDC unit – not bad for a company that only began building high-rise projects a few years ago.

SMDC upstaged condo market stalwart Megaworld, which sold 4,164 units last year, accounting for 16 percent of the market, followed by DMCI Homes with 11 percent and high-end seller Ayala Land with 7 percent.

In terms of transaction values, however, Megaworld still held sway, selling an estimated P15.8 billion worth of condos. SMDC was nipping at its heels with P10.1 billion in sales, followed again by DMCI Homes with P8.3 billion and Ayala Land with P7.3 billion.

According to Colliers, the local market was able to bounce back in 2009 after a slowdown in the previous year, with SMDC's sales performance from seven condo projects described as "impressive."

All told, there are more than 300 condo developments in Metro Manila being offered by 75 developers. With such an array of choices, the study's unwritten advice is clear: choose wisely. Daxim L. Lucas

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