SM Prime Holdings Inc., the country’s largest integrated real estate company, has acquired a two-hectare property along Epifanio de los Santos Avenue in Guadalupe, Makati from DMCI Holdings Inc. for an undisclosed amount.

SM Prime senior vice president Jeffrey Lim said in a recent interview the acquisition would boost the company’s landbank along Edsa to 14 hectares.

“It is actually a big bloc owned by DMCI. We got a portion, which we was sold to us. Both parties agreed to the terms and condition,” Lim said, without disclosing the details of the transaction.

The property will be developed over the next two years by SM Prime’s residential unit SM Development Corp.

The property is strategically located near the Guadalupe station of Mass Railway Transit Line 3 and San Carlos Seminary.

SMDC currently owns several lots along Edsa, including Ortigas, Mandaluyong, North Edsa and GMA Kamuning.

Aside from building residential projects near shopping malls, Lim said another strategy that SM Prime developed was to build condominiums near transit areas.

SM Prime earlier said it was looking at launching seven residential projects with total sales value of P42 billion this year.

Under the planm SM Prime will unveil four to five new condominium projects and two expansion phases that would offer between 12,000 to 14,000 units.

At an average cost of P3 million per unit, total sales value could range from P36 billion to P42 billion.

Last year, SMDC launched two new residential projects and three expansion projects.

Capital spending of SMDC this year is expected to range from P15 billion to P18 billion.

SMDC had 24 residential ongoing and completed projects located in Makati, Mandaluyong, Manila, Paranaque, Pasay, Pasig, Quezon City, Taguig and Tagaytay City as of end-March.