SM Development Corp., the residential development arm of the family of retail tycoon Henry Sy, is investing P18 billion in 2014 to launch new condominium projects and acquire more lands.

SMDC president Jeffrey Lim said in an interview the property firm would launch four projects in Metro Manila with 11,000 units next year.

The company would unveil one to two residential projects within its existing developments, he added.

Lim said the company would continue to launch residential projects as demand for condominium units was expected to remain strong.

“We see continuous strong demand for our projects and so we are launching new projects next year,” Lim said.

SMDC launched several condominium developments this year, including Trees Residences in Novaliches, Quezon City; Phase 2 of Grass Residences near SM North Edsa in Quezon City; Shore Residences at the Mall of Asia complex in Pasay City; and Breeze Residences along Roxas Boulevard.

The projects launched in 2013 added 13,000 units in the inventory of the property firm.

Property consultancy firm Jones Lang LaSalle earlier said it expected supply of residential condominium to peak in 2014, before tapering down due to increased competition.

It said some 58,000 condominium units were expected to be completed in 2014, but from 2015 to 2019, the supply would go down as property developers might take a conservative position amid the large number of projects available in the market.

Jones Lang LaSalle, however, said big property firms like SMDC, Ayala Land Inc., Megaworld Corp. and DMCI would likely continue to dominate the market because many of their projects were in Metro Manila.

SMDC has 17 ongoing residential condominium projects all over Metro Manila. The property firm also plans to venture in China.