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Home News Top Stories SM Development allots P3B for condo at mall
SM Development allots P3B for condo at mall
Saturday, 21 June 2008 16:13
{mosimage}SM Development Corp. (SMDC), a property unit of the mall magnate Henry Sy’s SM group, announced it would spend P3 billion for a new residential condominium project, Sea Residences, in the Mall of Asia complex in Pasay City.

Sea Residences is the company’s sixth residential project in Metro Manila and the first in the Mall of Asia complex, company president Rogelio Cabuñag said.

It will rise on a 1.8-hectare lot along Diokno Boulevard. It will have six 15-story towers with a total of 2,580 units, he said. SM Development assistant vice president Adelaida Cobres said the company expected sales to reach P800 million this year from the first of three phases of the project.

Up for completion by 2011, the first phase represents 30 percent of about 1,100 units available in Towers A and B and podium level areas. Average price per square meter at Sea Residences is P83,000.
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