SM Mall of Asia (Photo credit: MikeVC)Profits of listed SM Development Corp. jumped by 38 percent to P2.7 billion in the first half of the year, a disclosure to the Philippine Stock Exchange showed Wednesday.
The developer reported an 85-percent surge in home sales in the period or P19.8 billion in sales. The number of units sold, on the other hand, grew by 72 percent to 8,007 from the 4,655 it posted the previous year.
"SMDC’s residential condominiums are being designed and developed to cater to the Filipino’s growing need for privacy, sophistication, and greater access to retail and home-related services which offer greater convenience and time for families to live a more balanced life,” said Henry Sy Jr, SMDC vice chairman, said.
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