SM Prime in talks with partner for ‘landmark’ Makati project
Property giant SM Prime Holdings (SMPH) has drummed up interest on its newly-launched premium residential brand as it announced talks with a strategic partner for a “landmark” development in Makati City.
While SMPH did not identify the other party, it said this strategic partnership would lead to the development of a new upscale enclave under its Signature Series brand.
The partnership is deemed as crucial given the extreme scarcity of prime land, especially in Makati where existing luxury properties are consistently rising in value.
“If we study the residential market in the Philippines, we see that the space for premium primary residential has not yet been addressed to its best capacity. Signature Series by SM Residences is entering this space to make a new mark, harnessing SM’s strong organization, resources and commitment,” Jose Juan Jugo, SMPH executive vice president and Signature Series group head said in a press statement on Thursday.
“Signature Series is all about creating value,” added Jugo. “In the future, your Signature Series property will certainly appreciate. It’s also intended to be future-proof and can be passed on to the next generation. Moreover, it’s about delivering the best possible quality. That is our commitment to the prospective residents of our properties.”
Based on Colliers Philippines’ first quarter 2025 report, the Makati central business district has less than 1 percent unsold ready-for-occupancy condominium units. Office vacancy, at 8 percent, is also relatively low compared with other business districts.
Colliers also noted that luxury and ultra-luxury segments remained resilient despite broader condominium oversupply, with units priced above P12 million attracting investors seeking premium features, sustainability and capital growth.
The postpandemic residential market has also seen an uptick in demand for larger units as buyers seek more space for work-from-home arrangements, family living and overall comfort.
Affluent buyers are increasingly looking at sustainability and wellness features. “We see strong demand from high-net-worth individuals and families. Signature Series in partnership with a key player in the luxury residential space is set to deliver on the premium living requirements that these discerning individuals are looking for,” said Jugo.
