SM Development Corp. said Wednesday it expects to generate as much as P9.7 billion in sales from the two newly launched high-rise condominium buildings within the five-hectare Grass Residences project in Quezon City.

SM Development assistant vice president Jan Spencer Chavez said in a press briefing the two residential buildings, representing the second phase of the Grass Residences residential project, would offer 3,900 units.

The project’s selling price starts at P2.4 million for a 25-square-meter condominium unit.

Chavez said the company would start pre-selling the buildings early next year with construction scheduled for completion by the third quarter of 2017.

The strong demand for the first three towers of the Grass Residences project encouraged the company to launch the two 40-story residential buildings.

The property firm turned over two of the first three residential towers in Grass Residences with 80 percent occupancy rate.

Grass Residences, located beside SM North Edsa, is one of the country’s largest shopping malls owned by SM Prime Holdings Inc.

“It will suit individuals who want to capture the unprecedented growth happening today in Quezon City, particularly in its central business district,” SM Development president Jeffrey Lim said in a statement.

Among the outdoor amenities that can be enjoyed by condominium buyers are swimming pools, landscaped lawns and water cascades. Indoor amenities include badminton courts, basketball court, a fitness gym, children’s play area, cabanas and pavilions.

SM Development also launched Trees Residences Tuesday in Novaliches, Quezon City with an estimated sales value of P10 billion.

Trees Residences will offer 7,000 condominium units and will be constructed over a period of four years.

SM Development now has 14 ongoing residential condominium projects across Metro Manila.

The property firm recently delisted from the official registry of the Philippine Stock Exchange as a part of the consolidation of all Sy-owned property assets under SM Prime Holdings Inc.

SM Prime, which is engaged in development and operation of shopping malls in the Philippines and China, would now go into residential development, leisure and hotel projects.