Philippine developer SMDC hailed for its Corporate Social Responsibility efforts

 The Special Recognition Award for Corporate Social Responsibility at the Dot Property Philippines Awards 2021 was bestowed upon a homebuilder making positive contributions that extend beyond property.

SM Development Corporation’s efforts know no bounds. Recently, the developer teamed up with local government units and the Philippine Red Cross on a vaccination program for all its residents and employees. Throughout the pandemic, SMDC has found ways to give back.

“We have medical missions, and we also have bloodletting. We even worked with the Red Cross on blood drives during the COVID-19 pandemic and we able to donate a lot of blood which was needed,” SMDC President Jose Mari Banzon said during an interview with Dot Property Group.

However, that is just one of the reasons why they are known as The Good Guys. SMDC continues to find new and inspiring ways to support local communities, such as its efforts to promote local farmers and home-based entrepreneurs by creating markets.

“The local farmers can bring produce and sell it on the weekends at market stalls in SMDC developments. This provides them with extra income,” Banzon explained. “Of course, residents are encouraged to sell their own products such as baked good. As a matter of fact, we have had a lot of OFWs who lost their jobs overseas and came back to Manila. They have joined our weekend markets and it turns out they don’t even want to go back because their income is very secure.”

By fostering community spirit, promoting healthy lifestyles and developing secure and safe neighborhoods, SMDC truly are the Good Guys. They are worthy winners of the Special Recognition Award for Corporate Social Responsibility at the Dot Property Philippines Awards 2021.

SOURCE: DotProperty

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Cebu entertainment hub 80% complete: Sy-blings, Ayala group to open P90B South Coast City project in June 2022

The SM-Ayala Land consortium is expected to open Cebu’s newest gimmick place in the middle of this year, two and half years after breaking ground.

In a disclosure, Ayala Land said the South Coast project was 80 percent complete as of 31 December 2021 and would be completed as scheduled in June 2022 despite the pandemic lockdowns.

The consortium won the bidding for the 26.-3-hectare property at the South Road Properties of Cebu city in 2015.

The project includes a seaside commercial center, a 1.1-hectare park, an arena and a convention center.

Ayala Land president and CEO, Bobby Dy said: “As one of the country’s fastest developing hubs, we believe this development will not only put a spotlight on Cebu as a destination of future growth – but will likewise elevate experiences and opportunities for Cebuanos and visitors alike.”

SOURCE: Bilyonaryo

 

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From recovery to sustainable growth: Sy-blings’ real estate arm posts 9% rise in nine-month profit

Integrated property developer SM Prime Holdings Inc. grew its net income by nine percent in the first nine months to P15.6 billion on higher reservation sales.

Consolidated revenue, however, declined by six percent to P56.8 billion as the group’s shopping malls continued to enjoy low foot traffic amid the pandemic.

 “SM Prime continues to develop new ways and solutions in its businesses by developing sustainable programs that provide safe and secure environment for all of its stakeholders. This is in line with our anticipation of welcoming more people in our establishments, primarily in our malls and other commercial facilities, where thousands of our partner-tenants can showcase their products and services this coming Holidays Season,” said Jeffrey C. Lim, SM Prime president.

The residential business, led by SMDC, accounted for 56% or P32.1 billion of SM Prime’s consolidated revenues, down six percent from last year’s P34.2 billion.

SMDC’s reservation sales, however, grew 14 percent to P76.3 billion in the first nine months due to strengthened online presence and continuous construction of projects.

Revenues from the shopping mall business declined by 14 percent to P15.8 billion, weighed down by the reimplementation of stricter community quarantine in August.

The China mall business likewise saw revenue jump by 28 percent to P4.6 billion.

Meanwhile, revenues from the hotels and convention centers business reached P900 million.

“As the country continues to survive the pandemic, SM Prime will remain optimistic by providing support to the government as well as convenience, services and entertainment to its customers,” Lim said.

SOURCE: Bilyonaryo

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