SM targets middle class for new housing project

Thu. November 20, 2008; Posted: 07:55 PM

MANILA, Nov 20, 2008 (Asia Pulse Data Source via COMTEX) -- SMDOF | Quote | Chart | News | PowerRating -- SM Development Corporation (SMDC), the property arm of the SM group of companies, is targetting the middle class and overseas Filipino workers (OFWs) market for its new residential condominium project in Paranaque.

Roger R. Cabuag, SMDC president, said the new project --the Field Residences -- which will break ground on Nov. 22 aims to capture the middle-class family for this new affordable and quality housing projects.

We are pleased to formally break ground for Field Residences, a project that is in consonance with SMDC's tradition of offering quality housing at affordable prices," Cabunag said.

With an area of 78,000 square meters or roughly eight hectares of land, Field Residences is right behind the SM City Sucat shopping mall in Paranaque City and just 10 and three kilometers away from Makati City and the Ninoy Aquino International Airport, respectively.

"Field Residences also promises an attractive urban lifestyle which offers a lot of open spaces, first-class amenities, and sports facilities to be enjoyed by the whole family, added Cabunag.

Ten buildings are envisioned to rise in clusters over the medium term. Each building will have an estimated 300 units and will be made up of eight to 12 floors. One and two bedroom units will be offered at a price range of P1.2-P3.5 million.

Among the amenities of the Field Residences are a clubhouse; three 25-meter lap swimming pools; three wading pool; poolside area for events and functions; threechildrens swimming pool with play area; childrens playground; basketball, volleyball, and badminton courts; a jogging trail; and a picnic area, among others.

Apart from the Field Residences, SMDCs other on-going projects are Chateau Elysee in Paranaque City, Mezza Residences across SM City Sta. Mesa, the BerkeleyResidences along Katipunan Road in Quezon City, the Grass Residences beside SM City North EDSA, and the residential subdivision Lindenwood Residences in Muntinlupa City.

Last August, SMDC also broke ground for the Sea Residences near the Mall of Asia Complex in Pasay City.

Cabunag said that next to be launched are the Princeton Residences beside the Gilmore station of LRT Line 2 along Aurora Boulevard in Quezon City and the Tree Residences in Cainta, Rizal. DCT/vcs/MSN

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