PASAY CITY, Philippines, 24 October 2024 — SM is responding to the rising demand from Filipino homebuyers by enhancing its investment offerings at Vail Residences in Cagayan de Oro.
The residential arm of the SM Group, SM Development Corporation (SMDC), under SM Prime Holdings, Inc. (SM Prime), is launching the second phase of Vail Residences following the rapid sell-out of the first phase, which was completed in just three months. By the end of August 2024, 45% of the units in the new phase had already been sold within the first month of availability.
“This strong demand reflects the economic growth in progressive cities, where we’ve witnessed significant development and a premium lifestyle. Our goal is to make homeownership accessible to more Filipinos,” stated Jessica Bianca ‘Jica’ T. Sy, Vice President and Head of Design, Innovation and Strategy at SM Prime and SMDC.
Cagayan de Oro, the capital of Misamis Oriental, has emerged as a highly urbanized center, boasting the fastest-growing economy in Northern Mindanao in 2022 and contributing 28% to the region’s GDP, the largest among the seven local economies.
Mayor Rolando ‘Klarex’ Uy of Cagayan de Oro welcomed these investments in his recent State of the City address, highlighting the resilience of the local community.
SMDC’s Vail Residences is located in a prime location of Cagayan De Oro’s emerging growth center, offering residents easy access to essential services, diverse lifestyles and expansive retail options.
Vail Residences offers accessible pricing below market value, with units starting at PHP 3.4 million, and was recognized as the Best Affordable Condominium at the 2023 Carousell Property Awards.
SMDC is enhancing this growth by integrating residential spaces into the thriving developments of its parent company, SM Prime. Vail Residences is conveniently located just 500 meters or a three-minute drive from SM City CDO Uptown.
In addition to its attractive pricing, SMDC offers resort-style amenities, hotel-like lobbies, and a commitment to affordable living, ensuring that lifestyle and accessibility are seamlessly combined.
As of the end of 2023, SMDC has developed over 183,000 residential units across 67 projects nationwide, with 20 developments located in provincial cities such as Pampanga, Bulacan, Rizal, Cavite, Laguna, Iloilo, Bacolod, Cagayan de Oro, and Davao. Recent projects include Turf Residences in Biñan, Laguna, and Parkville Residences in Bacolod City, Negros Occidental. These developments are strategically located near SM Supermalls and transport terminals, enhancing convenience for residents.
“Through these initiatives, we aim to provide more opportunities for homeownership in thriving locations like CDO, helping Filipinos become part of growing communities,” she added.
