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.
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