RESIDENTIAL builder SM Development Corp. (SMDC) will spend between P15 billion and P18 billion to develop six projects as the company expects demand to continue since these are all located in Metro Manila.

Jeffrey Lim, SM Prime Holdings Inc. chief financial officer, told reporters that SMDC, the residential arm of the Sy-controlled firm, will develop four new condominium projects and expand existing ones.

Lim did not give specific details on the projects but said these are all in Metro Manila and will add about 11,000 units to SMDC.

“The developments that we have are all in Metro Manila and in prime location. We are seeing continuous demand for the projects that we have been doing so that’s why we are positive and we will continue to launch new projects,” Lim told reporters, when asked about the demand for its developments.

Lim said he is not seeing demand to taper off, at least for SMDC developments.

He added that when the company launched Shore Residences in the Mall of Asia Complex in Pasay, the company raised P2.3 billion worth of units within two months.

Next year’s capital expenditure budget could be slightly higher from this year, he said, but did not provide additional details.

SMDC has 14 residential condominium projects currently being completed all over Metro Manila.