Profile: SM Development Corp (SMDC.PS)

SM Development Corporation is a Philippines-based company engaged in real estate development and investments in securities of certain SM Group of Companies. For management purposes, the Company is organized into two operating businesses, namely, real estate development and investments in various securities. As of December 31, 2011, the Company had five wholly owned subsidiaries, includings SM Synergy Properties Holdings Corporation (SM Synergy), SM Residences Corp. (SMRC, formerly SM Homebuilders, Inc.), Landfactors Incorporated (Landfactors), Vancouver Lands, Inc. (VLI) and Twenty Two Forty One Properties, Inc. (TTFOPI). On January 19, 2012, the Company acquired Lascona Lands Incorporated (Lascona).