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SMDC GREEN 2 RESIDENCES
It was launched last month May 17,2018 and the turn over date is 2022 2nd quarter.
It was very successful because of the high demand in the area but low supply.
Green 2, is our first project in Cavite.
We are inspired by the success of our school hub projects,
starting with Sun Residences in University Belt,
Blue Residences in Ateneo,
Green in La Salle,
and these have had very strong rental income for our buyers.
The three universities in Dasmariñas have an estimated student population of over 20,000,
which SMDC estimates would grow at by 2% annually.
“We interviewed the schools there and found out
that only 700 beds of formal dormitory setup are available.
There is a great lack in supply to students.
Even as we see the student population growing,
dormitories and the schools are not growing at the same pace.
These areas are what SMDC calls “University Towns,”
where students are expected to take up most of the developments.
With this, the company is primarily targeting investors to buy the properties
and then rent them out to students.
There are two ways of investing in the area and leasing out the business.
If you have a unit, you can rent it out to students for a long-term lease,
you can serve the college population…
We also have an alternative market for short-term lease rates…
for faculty members that are visiting,
doctors and nursing staff,
parents of visiting children,
conferences and seminars in the campus,
noting the high yields for other properties.
Green 2 Residences’ first tower will offer 1,057 units across 19 floors,
with a total of 487 parking lots set to serve all three towers in the development.
The ground floor will house a retail area,
while amenities will be found on the second floor.
This includes a swimming pool, multipurpose lawns,
and study halls (constructed in Phase 1),
a fitness gym (Phase 2), and a covered porch and function hall (Phase 3).
On average, each sq.m. in the development is valued at P143,000.
Turnover for the first phase will start in October 2021.
Unit price: 2,971,000
Other charges :193,115
Total amount payable : 3,164,115
Reservation fee 20,000
15% net down payment : 454,617.25 spread in 47 months 9,672.71
85% balance : 2,689,497.75
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