SM Group Builds on Success and Expands Residential Development in CDO

​SM Group is addressing the rising demand for Filipino homes by expanding investment opportunities in Vail Residences in Cagayan de Oro.

The SM group's residential SM Development Corporation (SMDC), under SM Prime Holdings, Inc. (SM Prime), is initiating the second phase of Vail Residences expansion, following the swift success of the first phase, which sold out in three months. As of the end of August this year, the second portion had already sold 45% of its units in under a month.

“This is an encouraging sign of the growing demand in these progressive cities where we have seen significant economic activity in terms of Integrated developments, and premium lifestyle. It aligns with our vision to make homeownership accessible to more Filipinos,” said Jessica Bianca ‘Jica’ T. Sy, Vice President and Head of Design, Innovation and Strategy of SM Prime and SMDC.

The capital of Misamis Oriental has become a densely urbanized area. It had the fastest-growing economy in Northern Mindanao in 2022 and contributed the most to the region's gross domestic product (GDP) at 28%, out of the seven economies in the area.

Cagayan de Oro Mayor Rolando 'Klarex' Uy commended the city's investments, highlighting the Kagayanons' resilience, in his State of the City address, which was released online.

Vail Residences' below-market value in comparison to the upscale lifestyle on offer demonstrates its accessibility. The development, valued at least P3.4 million per unit, was named Best Affordable Condominium at the Carousell Property Awards in 2023.

​SMDC contributes to this success by deliberately incorporating the residential component within its parent company's thriving integrated property development, SM Prime. Vail Residences is within a 500-meter walk or three-minute drive from SM City CDO Uptown.

This is in addition to SMDC's standard features of resort-inspired amenities, hotel-like lounges, and affordable unit pricing, ensuring that lifestyles and accessibility converge.

​As of end-2023, SMDC has more than 183,000 residential units across 67 developments nationwide. Of these, 20 residential developments are in provincial cities in Pampanga, Bulacan, Rizal, Cavite, Laguna, Iloilo, Bacolod, Cagayan de Oro and Davao. It recently introduced Turf Residences in Biñan, Laguna and Parkville Residences in Bacolod City, Negros Occidental in 2023. These developments are accessible to SM Supermalls and transport terminals to provide convenience to residential communities.

“Through these efforts that provide opportunities of homeownership in different local such as in CDO, we aspire to help more Filipinos be a part of thriving growth centers,” she added.