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SMDC eyes opportunities in ASEAN

MANILA (PNA) -- SM Development Corp., a subsidiary of property giant SM Prime Holdings, is scouting new business opportunities in the Association of Southeast Asian Nations (ASEAN) region, as it expands outside Philippines and China.

“We just really have to have bigger markets. We’ve been very successful here. We want to do the same in other countries with the same demographics and profile, buyer profile,” SMDC Executive Vice President Jose Mari Banzon told reporters.

Banzon said they are looking to construct affordable, five-star amenities in ASEAN countries.

“Similar to what we’re doing (here) --affordable, five-star amenities. So it’s the same business model,” he said.

SMDC has properties strategically located in key areas across Metro Manila and Tagaytay City.