SM Development Corp. (SMDC), the residential arm of property group SM Prime Holdings, Inc., eyes to increase its residential units by a third by next year.
 
“Every year we sell around 15,000 units. But by next year it may increase to 20,000 units,” said Henry Sy Jr., SM Prime vice-chairman.
 
This will translate to about 5 to 10 project launches next year as the company diversifies its project portfolio, Sy added.
 
“We’re into everything already, even mid-rise,” he said.
 
For the first nine months of the year, SMDC reported a 23 percent jump in profits to P3.8 billion from P3.1 billion a year ago.
 
Real estate sales stood  at P16.6 billion, up 4 percent from P16 billion last year.
 
“The improvement in real estate sales was largely attributed to the increase in the sales take-up and higher construction accomplishment of SMDC projects launched in 2010 to 2013 namely Jazz Residences in Makati City, Wind Residences in Tagaytay, Green Residences in Manila, Breeze Residences in Manila, Grace Residences in Taguig, Shore Residences in Pasay and Trees Residences in Quezon City,” the company said.
 
Reservation sales rose 22 percent to P28.4 billion compared to P23.3 billion last year, covering 10,297 units, up 19 percent.
 
“Reservation sales were largely generated from Shore 2 Residences, Shore Residences, Air Residences, Fame Residences and Grace Residences in Pasay, Makati, Mandaluyong and Taguig City, respectively,” SM Prime said.