Financial performance for the period remained very strong as revenues from real estate rose 73.6% to Php11.9 billion. Net income from real estate for six months ended June 30, 2012 grew 31.8% to Php2.51 billion while consolidated net income increased by 38% to Php2.7 billion for a net margin of 22%. EBITDA also rose by 32.6% to Php2.97 billion translating to an EBITDA margin of 25%.
Henry T. Sy, Jr. SMDC vice chairman and chief executive officer said, "We are highly gratified by the warm response that the market continues to give to SMDC’s products. Our homebuyers encourage all of us to work even harder to match their expectations or even exceed them in terms of quality, lifestyle and convenience. SMDC’s residential condominiums are being designed and developed to cater to the Filipino’s growing need for privacy, sophistication, and greater access to retail and home-related services which offer greater convenience and time for families to live a more balanced life.”
All of SMDC’s projects are conveniently located near malls, transport hubs, and schools. They provide amenities such as swimming pools, hotel-like lobbies, and function rooms which, in the past decades, were beyond the reach of mid-range homebuyers.
Most of the units sold in the first half were from Shell Residences located at Mall of Asia Complex, Green Residences along Taft Avenue near De La Salle University, Jazz Residences in Makati, Light Residences along EDSA near Boni Avenue., Sun Residences in Quezon City’s Welcome Rotunda, Wind Residences in Tagaytay and Grass Residences beside SM North EDSA. At present, the Company has a total of 16 projects under construction and hopefully five more on the second half of 2012.
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