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SMDC to spend P2B for MyPlace



BY ALBERT CASTRO
[ Malaya.com.ph ] June 23, 2010

SM Development Corp. (SMDC) will be spending P2 billion for the maiden residential project under the brand MyPlace, which will rise in Quezon City.
Tagged My Place South Triangle, the project is bounded by Panay Avenue and Mother Ignacia Street, and only a few steps away from the ABS-CBN compound.
My Place South Triangle will be a four-tower condominium project that occupies about a hectare of land. Combined, the four towers of the project will offer approximately 3,000 units for sale, SMDC said.
The total units offered has significantly increased from 2,000 which SMDC chairman Henry Sy, Jr., announced in April.
"My Place South Triangle is SMDC’s first project under its My Place brand, which embodies the company’s pioneering concept to tap a younger market that yearns for independent living. Today’s upwardly mobile young adults who are at the early stages of a successful career and who would want a place to call their own, either for themselves alone or for their start-up families, are a perfect fit for My Place homes. Together with our SM Residences brand, this new and exciting business model will further strengthen SMDC’s product offerings," said SMDC president Roger R. Cabuñag.
Available unit types are studio, studio with garden, one bedroom, one-bedroom L-type, and two-bedroom.
Sy said MyPlace is a new niche that SMDC wants to venture into. This is the company’s first offering for units at P1 million.
The pre-selling prices for the units, SMDC said in a statement, are estimated to start at P1 million for unit sizes ranging from 20 square meters (sqm) to 40 sqm.
Construction of the project will commence by the fourth quarter of this year and completion of its Phase 1 is estimated to be by the first half of 2013.
My Place South Triangle’s amenities include a swimming pool, garden lounge, jogging path, and a children’s playground, among others. It will also offer wireless Internet (WIFI) access in common areas. For added convenience, commercial and retail areas will be located at the ground floor of the towers. In addition, the project site is surrounded by a variety of well-known restaurants, banks, schools, and other popular commercial establishments, and is only a five- to ten-minute walk to and from Quezon Avenue and the EDSA MRT (Metro Railway Transit) station.
It is near hospitals such as Capitol Medical Center and St. Luke’s Medical Center.
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