SM Land is the property arm of SM Investments Corporation. Under SM Land, SMIC builds its portfolio of property offering, from primary homes and residences under SM Residences, to leisure developments like Hamilo Coast and Tagaytay Highlands, and integrated business districts such as the Mall of Asia Complex.  

 

Across various sectors, SM Land landscapes progress. SM Land provides innovative lifestyle solutions in integrative, centrally located communities, leisure destinations, and rising commercial hubs. In response to emerging market aspirations, SM Land brings world-class standards of quality, design and value closer to the reality of daily living, thus providing investment growth, significant progress, and genuine customer satisfaction.

We also envision SM Land to be the preferred brand of the emerging affluent and upwardly mobile achievers; the discriminating leisure seekers; and pioneering and competitive start-ups, enduring companies, and strong multinationals through our various property offerings.

SM Land capitalizes on its ability to deliver through its strong financial muscle and expansive networks in various industries.

Real Estate Development

Revenues from real estate operations for the first half of 2010 increased by 59% to Php5.2 billion, while net income increased 39% to Php1.7 billion.

Contributions to net income were mainly from SM’s residential arm, SM Development Corporation, followed by the leasing activities of the commercial properties group, and the resort projects of Costa del Hamilo (Hamilo), SM’s tourism vehicle, which is developing the Pico de Loro Cove project in Nasugbu, Batangas.

As of June this year, Pico de Loro’s Jacana and Myna condominium clusters had already been completed and transferred to its owners. Meanwhile, its two other clusters, Miranda and Carola, which were launched in late 2008, are 38% and 35% complete, respectively. Jacana’s units are 91% sold; while pre-sales in Myna is likewise at 91%. Those of Miranda and Carola are 61% and 26% pre-sold, respectively. The beach club and the country club are now both fully operational.

SM Development Corporation (SMDC)
SMDC reported a 77% increase in realized revenues from real estate operations for the first half of 2010 to Php4.1 billion from Php2.3 billion in the previous year. Net recurring income from real estate operations, on the other hand, increased 47% during the period to Php1.1 billion, from Php0.8 billion last year.

Consolidated net income for the first six months of 2010 grew 24% to Php1.3 billion, after considering the effects of the one-time gain in marketable securities recorded in 2009, and the increase in interest cost in 2010. SMDC raised Php10.0 billion worth of bonds in the second quarter of this year to fund its landbanking activities.

As of the first half of 2010, SMDC has 13 residential projects in the market. In June this year, the company launched My Place South Triangle in the Panay Avenue – Mother Ignacia area of Quezon City. It is SMDC’s initial project under its new My Place brand. This pioneering business model aims to tap a younger market, composed mostly of upwardly mobile young adults who want to experience independent living. Together with the company’s SM Residences brand, My Place is expected to further strengthen SMDC’s product offerings.