[ Malaya.com.ph ] July 13, 2009
SM Development Corp., (SM Development) eyes to start groundbreaking of its newest realty project Princeton Residences in Gilmore, New Manila in Quezon City, by the end of the year as it remains optimistic about the outlook of the real estate sector.
The company will unveil its first project to be sold as fully-furnished some time in the third quarter. It aims to target families whose children are studying in the numerous schools around the area and professionals whose jobs are also located in the area. Princeton Residences is close to schools like St. Paul University, St. Joseph College, Trinity College, and De La Salle Greenhills, among others.
The area is also a booming commercial center with proximity to various health institutions like St. Lukes Medical Center, Delos Santos Medical Center, and UERM Medical Center.
SM Development president Rogelio Cabunag said that Princeton is geared primarily to for end-users, though buyers now include speculators as well.
"For now, we have received reservations for 30 percent of the units available," said Cabunag.
Princeton Residences is a 38-storey residential project offering studio, one-bedroom and two-bedroom units, with a total floor area of 45,595.24 sqm. A total of 5,224 units will be available to buyers.
Its ground floor will have a drop off area along Aurora Blvd. and commercial spaces, with the parking areas located at second to 6th floors. Amenities area will be located at the seventh floor.
Amenities include a swimming pool, poolside cabana, and lobby with lounge area, among others.
Units carry an area of 23.47 sqm. for studio units, 39.63 sqm. for 1 bedroom units, and 46.88 sqm. for 2-bedroom units.
Studio units are priced between P1.842 million to P1.88 million, 1 bedroom units at between P2.36 million to P2.38 million, and 2 bedroom units between P3.62 million to P3.65 million.
Sales for other existing projects of SM Development meanwhile remain brisk with Mezza in Sta. Mesa now 94 percent sold, Berkeley Residences in Katipunan Ave., is 85 percent sold, Grass Residences in SM North EDSA is 90 percent sold, and Fields Residences, is 50 percent sold for phase 1.
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