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MANILA, Philippines – If Sy-led SM Development Corp (SMDC) was cited by research firm Colliers International as the top seller of condominium units in the 2nd half of 2011, Andrew Tan-led Megaworld is now claiming it sold the most units for the entire year of 2011.
In a statement on Wednesday, Megaworld stressed that it sold a total of 10,451 residential units from January to December 2011, worth about P37.1 billion.
On Monday, February 13, SMDC said it sold over 6,000 units in Metro Manila from July to December, 2011, putting it on the top spot in the residential sector of the local property market.
In the first 9 months of 2011, Colliers said Megaworld topped the list of residential units available for sale on 2011 to 2016. Ayala Land, which previously lorded over the residential market, has decided to get more aggressive by offering more affordable and low-cost units, a far cry from its previous business model of going after the rich who can afford high-end units.
The boom in residential property market is pushed largely by purchases of local investors, overseas Filipino workers, and an overflow of the demand for office spaces, which, in turn, is a result of a healthy business process outsourcing (BPO) sector. – Rappler.com
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