25 Apr 2014 — Property developer SM Prime Holdings Inc. on Friday opened its third retail concept under its residential unit SM Development Corp. (SMDC) in its Sun Residences in Quezon City.

The company said the retail shops would occupy 15,000 square meters of space and offer a variety of commercial and retail stores to support the needs of the tenants and nearby communities.

The first and second such retail shops were set up for SMDC’s Jazz project in Bel-Air in Makati City and Mezza Strip in Quezon City.

“Sun Residences shines brighter with the opening of Sun Mall, as this reflects the synergies at work in SM Prime. Through these retail podiums within our residential towers, we aim to provide our residents with access to everything that they would need,” SM Prime Executive Vice President and SMDC President Jeffrey Lim said.

Launched in 2009, Sun Residences is a two-tower, 43-story development that offers studio, one-bedroom and two-bedroom units. Sun Residences is among 22 condominium brands by SMDC.  Lim earlier said SMDC would spend between P15 billion and P18 billion this year for six projects, build four new condominium projects and expand two existing ones.

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

“The developments that we have are all in Metro Manila and in prime locations. 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 said.