SM Development Corporation (SMDC) is scheduled to launch Tower 3 of its P6.8 billion residential condominium project in Mandaluyong City, the Light Residences, Saturday.

The firm said in a disclosure to the Philippine Stock Exchange that Tower 3 is one of three towers that comprise the Light Residences, which is located at the corner of Madison Street and EDSA.

Tower 1 of the condominium project is already under construction, while its Tower 2 is expected to begin construction by the first half of 2012.

“The construction of the Light Residences’ Tower 3 is SMDC’s timely response to the still growing demand for quality yet affordable homes in the area and in other parts of Metro Manila,” said SMDC president Roger R. Cabuñag.

He added that, since its located along EDSA, which is the metropolis’ major and historic highway, “Light Residences offers unparalleled accessibility and convenience, especially for those who prefer living close to the financial and business districts of Mandaluyong, Pasig, and Makati.”

Launched last year, the Light Residences occupies approximately two hectares of land. Each of its three towers will have 42 floors, offering a combined total of 4,231 units.

Its generous amenities include swimming pools with shower rooms, a recreational area, children’s playground, commercial areas, jogging path, and wireless Internet connection in common areas, among others.

The whole project is projected to be fully completed by the first half of 2015.