Light Residences News

Light Residences - News in Manila Bulletin 111710

2011-01-04T17:06:46Z

Following the Light

Manila Bulletin
Wednesday, November 17, 2010
By Carlomar A. Daoana

Light Residences offers a variety of space configurations: from studio units to two-bedroom affairs.
(Photo by NOEL B. PABALATE)

MANILA, Philippines – Mandaluyong—particularly the part of Boni, Pioneer and Reliance Sts.—is a real estate haven, right smack between four business districts (Ortigas, Rockwell, Bonifacio Global City, and Ayala) and in close proximity to other booming cities: San Juan and Pasig. Nothing can be more central than this side of the city made accessible by the MRT and EDSA. As someone who calls this city home, I should know: the ease and convenience of Mandaluyong’s location is a trump card to real estate developers who claim to have placed their projects in the best of sites.

No wonder that many residential towers have been cropping up this side of town, casting their shadows on the decidedly flat neighborhood profile. Soon to join them is the Light Residences of SM Development Corporation (SMDC) whose frenetic construction seems to have outpaced its nearby competition. Designed as a three-tower, 42-storey residential and commercial development, Light Residences is located along EDSA and boasts of a direct connection to the Boni Station of MRT. That alone should attract hordes of urban professionals who rely on the efficient—if rather cramped—transport of trains.

Inside the Light Residences will be a different experience as the property—designed as a live-work-play environment—will feature open spaces and top-notch amenities that will soothe tired, aching muscles and frazzled nerves. It will have four pools: two lap pools and two children’s pools. Providing the boost of relaxation is a landscaped garden that will be in close proximity to the jogging path—an invitation to do some cardio. Other features include: children’s playground, function rooms, Wi-Fi access in the lobbies, among others.

Possibly the best asset that’s going for it is its commercial component that is no Mom and Pop variety. Light Residences will feature a full-fledged entertainment and leisure complex—an SM Mini-Mall, so to speak. Cafes, restaurants, retail shops, movie houses and supermarket will be at a ready to serve of homeowners who may no longer see the need to venture out of their units to explore the nearby malls that, for Mandaluyong residents, are regular temptations (the city is not the “Capital of Shopping Malls” for nothing).

Just like other SMDC projects, Light Residences will also feature space configurations that will address various needs and budgets. Those who are having their first homes can look forward to either a regular studio (20 sq.m.) or a one-bedroom unit (23 sq.m. and 27 sq.m.-with balcony). Those who have a family or simply want more elbow room can see a two bedroom unit (43 sq.m.) as ideal. Those who have maximum space requirements can have two one-bedroom units configured to offer about 51 square meters of space.

Light Residences, no doubt, bolsters SMDC’s reputation as the number one real estate company in the country—a feat that is all the more admirable considering that the company has just recently joined the playing field. With thoughtfully named projects (as opposed to the cringe-inducing references to Western landmarks and flora) and integrative approach to developments (the mall component is really a plus), SMDC casts its light far and wide.

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Light Residences - News in Philippine Daily Inquirer 102910

2010-11-02T07:24:14Z

SMDC condo rides the ‘green’ theme on Edsa

Philippine Daily Inquirer
First Posted 21:17:00 10/29/2010
By Tessa Salazar

Filed Under: Construction & Property, Environmental pollution, Real Estate

FOR NOW, let’s forget the word “overdevelopment” and see how the fastest-selling and literally most traffic-stopping retailer-turned-developer has been rearranging the metropolis with its residential enclaves.

Could anyone else have imagined that a two-hectare, three-tower, 42-story residential and commercial development could have stood beside an impossibly congested Edsa-Boni MRT Station, and still appoint “green” features for it? Only the Sys could have imagined it, and made it real, and call it Light Residences.

When Henry Sy Jr. unveiled the showroom of the Light Residences that October 20 night on Edsa in Mandaluyong, everyone was mesmerized at the speed and vision of SM Development Corp. for the project; too mesmerized, even, for them to even ponder on the towers’ “green” design.

Harnessing sun, wind, water

Albert Yu, president of Asya Designs and the Light Residences architect, told Inquirer Property that SMDC projects have been about green architecture.

“This is the reason our development project is near the MRT, to lessen the burning of fuel. Every unit buyer is encouraged to save energy to lessen their carbon footprint. The supermarket and the cinemas are all just an elevator away.”

Yu, who claimed to be among the founders of the Green Architecture movement and a US Green Council member, said the building harnesses everything the planet gives for free.

“We harvest the rain to flush the toilet, water the plants, wash the floor. We make use of the air and the sun for natural ventilation and light.”

He added: “We owe everything to our next generation. We have to help Mother Earth, otherwise nothing will be left for our children.”

Yu, who stressed that an advocacy for the environment should also include lifestyle changes as well as structural considerations, revealed he maintained plantations of arugula, lettuce and romaine to lessen his dependence on animal protein.

Smog, noise on Edsa

Reporters present at the unveiling asked about the smog and the noise that SMDC residents would most certainly be exposed to, considering the area’s proximity to Edsa. Glenna Galupo, SMDC assistant vice president, responded that the pollution would be “dissipated” at the seventh floor, the level where residential units start.

Galupo said SMDC has already been coordinating with the local government when asked about the traffic congestion that the SMDC development would bring.

Light Residences’ units range from the regular 20-square-meter studio, 23-sq-m or 27-sq-m one-bedroom (with balcony), to the 43-sq-m two-bedroom or the combined space of two one-bedroom units (for a total of 50.84 sq m).

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Light Residences - News in Malaya 102810

2010-11-01T03:55:49Z

SMDC’s Light Residences
A commercial-residential concept like no other

Business Insight Malaya
Thursday, October 28, 2010
BY ALBERT CASTRO

SY-LED SM Development Corp (SMDC) is taking comfort at its Light Residences project along EDSA near Boni ave. to a new level.

The project, rising on a two-hectare area in Mandaluyong, will have 20,000 sqm of commercial spaces on the first few floors of the 42-story residential development. It’s like having a mini-mall under your home.

The commercial space will house, among others, three cinemas, a supermarket, as well as boutique shops that will make up the whole span of the commercial area planned for Lights Residences.

Project manager Glenna T. Galupo said this is the biggest commercial space so far to be developed as part of a residential project by any developer in the Philippines.

The company’s design for Lights Residences departs from the common lay-out of providing just a substantial commercial space within a development to accommodate a retail business that will cater to the immediate home needs of residents.

Another design is to have the commercial portion of a development constructed within reach of the residential component, but not right under it.

"We are not just selling a unit, we are selling a lot more, and with our link with the SM group of companies, you are just a walk away from the mall," said Galupo.

With an estimated development cost of P6.8 billion, the project will offer a total of 4,200 units in a three-tower complex, selling residential properties at P28,000 per square meter. Units range from studio, and one and two bedrooms.

Galupo said buyers can have units merged for bigger space.

So far, SMDC has already received an estimated P1.2 billion worth in sales reservation for the project, seven months since it was formally launched.

Phase one of the project, unveiled in March, is already sold out, while marketing for the second phase started in June and already sold 20 percent of available units.

The project has its Tower One offering 1,300 units, while the two other towers offer a total of 1,400 each.

The first tower is expected to be completed by 2013, to be followed by the next two in 2014, and 2015.

The project, one of the 12 developments the company has so far, has attracted interest from overseas Filipinos as well as families who are upgrading homes from communities around Mandaluyong, according to Galupo.

The PSE-listed SMDC is among the most aggressive developers in the country, launching residential projects left and right.

It recently announced a plan to raise approximately P11.8 billion in a stock-rights offer to partly-finance its development works and potential acquisition of properties.

Light Residences will receive P407.33 million of the proceeds which is expected to be used in the fourth quarter this year and second quarter of next year

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Light Residences - News in Business Mirror 061210

2010-07-18T15:43:07Z

SMDC to launch last tower of Light Residences
Business Mirror
Written by Miguel R. Camus
Wed 12 June 2010

SM Development Corp. (SMDC), the middle-income real-estate company of tycoon Henry Sy, is launching the last tower of its residential condominium project this Friday, June 18. In a statement, SMDC said Tower 3 is part of the three-tower Light Residences, located at the corner of Madison Street and Edsa in Mandaluyong City.

Launched last year, the Light Residences occupies approximately 2 hectares of land. Each of its three towers will have 42 floors, offering a combined total of 4,231 units.

The total cost of the whole project is estimated at P6.8 billion and is projected to be fully completed by the first half of 2015. Tower 1 of the condominium project is already under construction, while its Tower 2 is expected to begin construction by the first half of 2012.

"The construction of the Light Residences' Tower 3 is SMDC's timely response to the still-growing demand for quality yet affordable homes in the area and in other parts of Metro Manila," SMDC president Roger R. Cabuñag said in a statement.

Shares of SMDC did not move on Friday at P6.90 apiece.

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