SM Development Corp. (SMDC), the residential arm of SM Prime Holdings Inc. (SMPHI), one of Southeast Asia's largest integrated property developers, takes a bold step in tackling the nation's housing backlog through strategic partnerships with local governments.

In a symbolic turnover ceremony on Thursday, Oct. 24, 2024, SMDC handed over the keys to KaUswagan Residences – the first vertical socialized housing project in Iloilo City – further advancing the government's efforts to reduce the 6.5 million housing backlog.

The P248-million KaUswagan Residences is a collaboration between SMDC, the Iloilo City government, and the Department of Human Settlements and Urban Development (DHSUD).

The development, located in Barangay San Isidro, Jaro, serves as an accessible and affordable housing solution for Iloilo City government employees, reaffirming SMDC's commitment to socialized housing.

KaUswagan Residences serves as an accessible and affordable housing solution for Iloilo City government employees, reaffirming SMDC's commitment to building a nation of homeowners.

"This project underscores SMDC's commitment to supporting the government's socialized housing program. We are proud to deliver high quality homes for Filipino workers and contribute to building thriving communities," SMPHI President Jeffrey Lim said.

Designed with the working class in mind, KaUswagan Residences features two twin four-story buildings with 30-square-meter units, ample parking spaces, and proximity to the city center – just 6.5 kilometers from Iloilo City Hall.

This thoughtful location provides easy access to essential services, making it a practical choice for local government employees.

KaUswagan Residences features two four-story buildings with 30-square-meter units, ample parking spaces and proximity to essential services.

A model for future collaborations

Iloilo City Mayor Jerry Treñas praised the partnership, noting that the project offers a replicable model for future collaborations between the government and the private sector.

"The City Government of Iloilo is grateful for the strong partnership with SDMC. Through the KaUswagan Residences, we are providing working-class families with affordable homes, a critical need in our city. This project sets a benchmark for public-private collaborations in housing, and we hope it will be replicated in other regions," Treñas said.

Residents will enjoy easy access to the city center, a practical choice for local government employees.

SMDC's commitment to socialized housing

SMDC has committed over P1.108 billion to the Philippine government's socialized housing program, building housing developments since 2012.

These projects cover land development, land acquisition, and the construction of socialized housing units across the country, in partnership with local government units (LGUs) and the DHSUD.

In addition to KaUswagan Residences, SMDC has utilized its P1.108 billion commitment to support other housing projects nationwide.

These include Davao City – P320 million for land development in Barrio Lasang for a socialized housing project; Eastern Samar – P184.4 million in Salcedoville, Barangay Tagbacan, where 300 homes were built for Typhoon Yolanda survivors; Cavite – P192.1 million for the Bayanihan Gawad Kalinga Village in Dasmariñas City; and Abra – a housing program in Indigo Subdivision, Barangay Basbasa, Tayum, consisting of 126 housing units set for turnover by 2025.

Beyond its socialized housing contributions, SMDC has also launched Style Residences – its first premium development in Iloilo City.

Located within the city's Lifestyle District and adjacent to SM City Iloilo, this five-tower complex offers over 2,900 residential units.

The development features high-end amenities such as swimming pools, landscaped gardens, and function rooms, catering to the growing demand for upscale urban living in Iloilo

In 2021, SMDC launched Glade Residences in Jaro, Iloilo. Featuring 11 four-story buildings, the mid-rise development blends modern living with heritage preservation.

With lush open spaces, vertical gardens, and a future SM shopping center, this development offers 8,800 sqm of amenities and landscaped areas, including a rain catchment system and cistern tanks. It is a perfect mix of style, sustainability, and value.

A nation of homeowners

SMDC continues to strive toward its vision of creating a nation of homeowners.

Through projects like KaUswagan Residences, Style and Glade Residences, SMDC remains committed to building life-centered communities, where Filipinos can lead fulfilling, healthy, and thriving lives.

"The KaUswagan project is a concrete example of how public-private partnerships can significantly improve the lives of working-class citizens. Together, we are making the dream of homeownership a reality for more Filipinos," Treñas added.