SM Prime is looking into numerous projects that are within the price range of Php 800,000 to Php 1.5 million. Such projects will also comprise of both mid-rise developments as well as house and lots. The price ceiling for these falls under the low-cost housing definition set by the Housing and Urban Development Coordinating Council.
SM Prime was set to roll out projects in both Pampanga and Cavite last year. However, they were pushed back to a much later date due to the consolidation of properties for such developments. In a briefing last week, Colliers Philippines stated that the recent property boom has failed to address the huge housing backlog. Property developers are moving to address any mismatch between actual demands and what has been developed over the years.
