BY ALBERT CASTRO
[ Malaya.com.ph ] May 4, 2010
Simultaneous with its aspired 50 percent growth a year in the next five years, SM Development is also eyeing to increase its manpower by nearly a half of its current size to realize the growth.
SM Development president Henry T. Sy, Jr., said the company looks to have as much as 800 new sales personnel by the end of the year from last year’s "a little over 400."
"We are increasing our projects so we need people that will (help it) sell," he said.
Industry sources told Malaya Business Insight that SM Development’s aggressive expansion has benefited sales people in the real estate industry as the company offers salary "nearly double" that of what they currently receive.
"The only company they haven’t pirated from was Ayala Land," the source said.
SM Development earlier announced allocating P8 billion as capital expenditures as it launches four new projects this year.
The company likewise announced it was introducing a new "niche" product which targets yuppies particularly those working in the call center industry.
Called "My Place," Sy said the project "will address the increasing demand for housing units in the Philippines."
The brand will offer units at the price of P1.1 million and below, and will be offered as a 20 sq.m. area developed "in quality model."
The pioneering site will be located in the site of the old Danarra Hotel in Quezon City and will have as initial offer four-tower development with 2,000 units.
Sy however said My Place will have its formal launch by May.