Sunland plans real estate expansion in next 3-5 years
SUNLAND Development Corp. (SDC) announced that it was targeting to expand its real estate business to 500,000 square meters (sq.m.) within the next three to five years.
“This begins with the construction of our 15-storey office building, the result of a continuous and increasing demand for properties of Sunland,” SDC Vice-President Kevin Lim said during the project’s groundbreaking ceremony.
The property developer on Tuesday launched the construction of its new office warehouse in Quiapo, Manila with a leasable space of 34,000 sq.m.
“As businesses grow in the Philippines, we realized we want to build more commercial, offices, and warehouses to serve clients and mid to high-scale businesses,” SDC President Richard Lim said.
The expansion is mainly targeted in Metro Manila, Cavite, Bulacan, and Laguna amid shopping malls and business process outsourcing (BPO) firms returning to operations due to favorable market conditions.
“The growth of e-commerce is one of the reasons behind the property expansion. Hence, the concept of building offices with warehouse spaces,” the firm added in a statement.
SDC is a real estate company that is engaged in improving and developing properties nationwide. It has constructed a total of 183,240 sq.m. of leasable properties related to office, warehouse, and commercial use.
The company reported that 95% of its properties were already occupied as of December 2021.
Aside from property development, SDC is also engaged in buying and selling properties. — Luisa Maria Jacinta C. Jocson