Overview

SM Development Corporation (SMDC) is a leading residential property developer in the Philippines, operating as a wholly-owned subsidiary of SM Prime Holdings, Inc., which is part of the SM Investments Corporation, one of the country’s largest conglomerates. Founded in 1974, SMDC focuses on delivering premium yet affordable middle-market residential condominiums, integrating them with commercial and retail environments to create vibrant, sustainable communities. Known as “The Good Guys,” SMDC is recognized as the largest and fastest-growing real estate developer in the Philippines, committed to providing Filipinos and investors with access to a cosmopolitan lifestyle through masterfully planned, award-winning developments.

History and Background

SMDC was established as part of the SM Group, founded by Henry Sy, Sr., who began his entrepreneurial journey with a small shoe store, ShoeMart, in 1958. The SM Group evolved into a conglomerate with interests in retail, banking, real estate, and tourism. SMDC was incorporated to pursue real estate investment opportunities, focusing on residential developments that cater to the growing demand for quality, accessible housing. Its strategic vision is to be a leading developer of world-class residences in the Philippines, offering convenient, upscale, affordable, and environmentally friendly homes.

Mission and Vision

• Mission: SMDC is dedicated to providing luxurious urban and suburban living through vertical villages integrated with commercial retail environments, offering residents a cosmopolitan lifestyle with access to essential amenities such as supermarkets, banks, and salons.
• Vision: To be a leading developer of world-class residences in the Philippines, uplifting Filipino lifestyles with convenient, upscale, affordable, and environment-friendly communities.
• Core Values: Vision, Leadership, Focus, Hard Work, Integrity, Innovation, Prudence, Nurturing, Aggressive, and Financially Conservative.

Business Operations

SMDC specializes in developing residential condominiums strategically located in key areas across Metro Manila, including the Central Business Districts of Makati, Ortigas, Quezon City, Pasay, Taguig, Parañaque, and Las Piñas, as well as provinces such as Cavite, Bulacan, Pampanga, Laguna, Bacolod, Iloilo, Davao, and Cagayan de Oro. The company has recently expanded into the horizontal housing segment with projects like Symphony Homes in Mabalacat, Pampanga. SMDC’s developments are known for their five-star amenities, including grand lobbies, Olympic-sized swimming pools, jogging paths, function rooms, and libraries, designed to enhance residents’ convenience and lifestyle.

SMDC’s business model emphasizes rapid unit turnover without compromising quality, targeting customers seeking aspirational yet affordable residences. Its properties are often located near SM malls, educational institutions, business districts, and transportation hubs, ensuring accessibility and convenience. Notable projects include Jazz Residences in Makati, Jade Residences on Chino Roces Avenue, Turf Residences in Biñan, Laguna, and Field Residences in Parañaque.

Corporate Structure

• Parent Company: SM Prime Holdings, Inc., a publicly listed subsidiary of SM Investments Corporation.
• Key Leadership:
  • Henry Sy, Sr.: Founder and Chairman (deceased, succeeded by Henry T. Sy, Jr.).
  • Henry T. Sy, Jr.: Chairperson and Chief Executive Officer.
  • Jose Mari H. Banzon: President and Director.
  • Grace Evangeline M. Sta. Ana: Executive Vice President and Director.
  • Epitacio B. Borcelis, Jr.: Company Secretary and Director.
• Headquarters: 15th Floor, Two E-Com Center, J.W. Diokno Boulevard corner Harbor Drive, Mall of Asia Complex, Pasay City, Manila, 1300 Philippines.
• Employees: Approximately 800 (estimated across all locations).

Financial and Market Presence

SMDC’s common stock is listed on the Philippine Stock Exchange under the symbol “SMDC.” The company benefits from the SM Group’s extensive land bank and financial strength, enabling it to compete effectively in the real estate industry. SMDC has been recognized as the Best Developer of the Year in 2020 by the PropertyGuru Asia Property Awards, with additional accolades for projects such as Shell Residences (Best Residential Landscape Architecture, 2016-2017), SMDC Light Mall (Highly Commended Retail Development, 2016-2017), and Fame Residences (Best Interior Design Show Home, 2016-2017).

Sustainability and Community Impact

SMDC integrates sustainability and climate action into its business strategy, aligning with SM Prime’s commitment to disaster risk reduction and social inclusion. The company designs resilient infrastructure and fosters community-focused developments, as highlighted by Jessica Sy, Assistant Vice-President and Project Director, at the 2023 Steward Leadership Summit in Singapore. SMDC’s projects aim to address the housing backlog in the Philippines while providing balanced, healthy living environments.

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