By Zinnia dela Peña (The Philippine Star) | Updated September 20, 2013 - 12:00am
MANILA, Philippines - The SM Group has been named “Best Residential Developer in The Philippines” by pre-eminent international finance magazine Euromoney, in the 9th annual global Euromoney Real Estate Survey. The award highlights the work that residential arm SM Development Corp. (SMDC) has been doing in the last six years to effectively reach out to the retail market by addressing the need for affordability while still catering to lifestyle aspirations through innovative and efficient approaches.
SM takes its roots from retail as founder Henry Sy Sr. opened a shoe store in 1958. Retailing provided a venue for the group to develop innate skills and core values that have helped SM grow and expand into related businesses which thrive on their distinct ability to keep pace with the dynamic markets that they serve. As such, SM is now among the largest consumer-based conglomerates in the Philippines with diverse interests in retail, banking and property.
The Euromoney awards took into account factors such as sustainability and consistency in providing high quality, innovative and profitable real estate projects. Individual developments, both recently completed and those at the planning stage.
“The award highlights the work that residential arm SM Development Corporation (SMDC) has been doing in the last six years to effectively reach out to the retail market by addressing the need for affordability while still catering to lifestyle aspirations through innovative and efficient approaches,” the SM Group said in a statement.
Euromoney editor Clive Horwood said this year’s winners are “those that exhibited the ability to innovate and make best use of the inherent strengths of their organization.”
SM Investments Corp. vice-chairman Henry Sy Jr., and vice chairman and CEO of SMDC said the award “affirms the long-term vision of SM in the property business where our dedication lies in knowing what our markets want and need so that we can address them accordingly.”
“ Innovation is one of our group’s core values. It keeps our work exciting, trying new things while keeping our feet firmly on the ground. We mix it with a strong pioneering spirit, the innate desire to serve, and with stewardship which altogether creates value for our customers and all of our partners in business,” he added.