October 2010 Light Residences Investor Updates

Project Updates:

* LIGHT SHOWROOM in Megamall is now open

* BLESSING OF LIGHT SHOWROOM, EDSA corner Madison St, Mandaluyong City on October 20, 2010 at 6PM

Light Residences LightsOn Invitation

* OPEN HOUSE on October 16 & 17 at 5th Level SM MEGAMALL BLDG. A from 10AM to 9PM                               

Real Estate News: SMDC sells P11.3 billion worth of residential units in Metro in first half

The Philippine Star
Posted on Wednesday, September 1, 2010

MANILA, Philippines – SM Development Corp. (SMDC) has sold over 5,000 units worth P11.3 billion in the first half this year, making it the largest residential developer in Metro Manila both in terms of the number of units sold and the value of sales, according to property research specialist Colliers International Philippines.

The performance of SMDC was compared with those of nearly 80 other developers competing in Metro Manila.

SMDC attributed the robust take-up of its units to the projects’ good location, aggressive marketing and competitive pricing strategy.

Last year, the company sold a total of 4,700 units.

SMDC’s sale of condominium units from January to June this year accounted for 26 percent of total real estate sales in Metro Manila and exceeded the company’s full-year sales in 2009. The 210-percent growth in sales mainly came from Princeton, Light, Jazz, Sun and Wind Residences projects.

In addition to its current inventory, SMDC plans to launch this year My Place, Blue Residences and Green Residences.

“We thank Colliers for this citation – a very encouraging development especially since SMDC is one of the new players in the business. Moving forward, it is our goal and our mission to provide the best home for every Filipino, through improved lifestyles, an innovative approach to design and amenities, finding the best locations, even as we price them right,” SMDC vice chairman Henry Sy Jr. said.

As of the first half this year, SMDC had 13 residential projects in the market. In June, the company launched My Place South Triangle on the Panay Avenue – Mother Ignacia area of Quezon City. It is SMDC’s initial project under its new My Place brand which aims to tap a younger market, composed mostly of upwardly mobile young adults who want to experience independent living.

Together with the company’s SM Residences brand, My Place is expected to further strengthen SMDC’s product offerings.

-- Zinnia B. Dela Peña

Construction Updates:

Light Residences Construction Update1 Oct 12 2010

Light_Oct_12_IMG_3200S 2nd

Compare this photo taken October 12 with the last photo below taken late July
(Tall Building at the back can barely be seen)

Light Residences Construction Update3 Oct 12 2010

Light Residences Construction Update4 Oct 12 2010
GA Tower can be seen in the Background

Light Residences Construction Update5 Oct 12 2010

Light Residences Construction Update6 Oct 12 2010
White Structure on the Left Side is the Side Entrance to the Light Residences Showroom

Light Residences Construction Update 7 Oct 12 2010
This Photo taken late July and shown in our Last Light  Investor Update