As one of the Philippines largest real estate developers, SM Development Corporation (SMDC) needed to be adaptable in order to cope with the COVID-19 pandemic. From operations to new projects, the name of the game for the homebuilder has been flexibility.
In an interview with the Business Mirror, SMDC President Jose Mari Banzon pointed out that adaptability allowed the company to not only survive but thrive during what has been an extremely challenging year.
“We were able to keep operations going. As a result, our sales for the first six months of 2020 have been higher compared to the same period last year. We were lucky. But we were also prepared,” Banzon told the news outlet.
SMDC had been prepared for this moment in many ways and the designs of its condo projects had already started to reflect changing lifestyle trends, such as work-from-home, that became more prevalent during the country’s lockdown.
According to Banzon, SMDC had been incorporating designs that made the units and common areas in its condo project work-from-home friendly. Additionally, the firm was committed to building integrated lifestyle developments tailored to the needs of the modern residents.
“A commercial strip, which is a standard feature in our developments, is perfect for work-from-home as the residents can get everything they need without leaving the complex,” Banzon noted.
The key for SMDC is to create vibrant communities that provide residents with an unmatched experience. In order for that happen, the developer remains invested in its projects even after a unit has been handed over.
“We do not stop at turnover. When we say we build communities, we make sure our infrastructure is supported by professional property management, excellent customer experience, and various initiatives that allow everyone to live in healthy, happy, secure and thriving communities,” Bazon stated.
SMDC looks to its future
COVID-19 has taught SMDC a lot, but Bazon believes the most important lesson learned is the fact real estate is the best option for investors. That knowledge is what will keep the homebuilder moving forward in the months and years to come.
Plans are already in place for multiple project launches in the Philippines, but that’s not the only thing in the pipeline. SMDC is currently exploring opportunities available in Southeast Asia after finding success at its first overseas project in China.
“Our first venture outside the country was well received. We believe that the market for this region shares similar values and realities with our home country. As our business model has been successfully received here, we are confident that we will have that kind of reception in the rest of the region,” Bazon concluded.