SM Prime invests P3B in new ‘eco-resort’ in Nasugbu
Property giant SM Prime Holdings Inc. is channeling P3 billion into developing an eco-resort community in Batangas province.
The group said in a stock filing on Tuesday that the project would be led by its leisure resort residences developer Costa Del Hamilo Inc.
Dubbed M Village, the 12-hectare flagship eco-integrated development at Hamilo Coast’s Marina Estates is located in Nasugbu.
Even as the turnover is set in late 2028, the group has already witnessed “strong” traction from potential buyers.
The company said more than 60 percent of the property would remain as open space and natural systems. More than 4 hectares, meanwhile, will be used to build shared amenities, such as a clubhouse, bi-level pools, a rain garden, family parks and a wide lawn for gatherings.
The initial phase of the project would offer more than 170 residential lots, also designed to allow owners to dock 4- to 6-meter boats and jet skis just steps from their homes.
“M Village is a unique property because it combines upscale coastal living with seamless access to both nautical adventure and nature,” said Shirley Ong, executive vice president and business unit head at SM Leisure Resort Residences.
For this project, SM Prime has tapped Wimberly Allison Tong & Goo (WATG) Singapore as concept planner and Joel Luna Planning & Design as master planner.
WATG is known for Regent Bali Canggu, Nobu Residences Los Cabos and several Four Seasons properties.
SM Prime, the property arm of the SM Group, is a real estate giant focused on the development of malls, residences, offices, leisure resorts, hotels and convention centers.
In the first nine months, the firm saw its bottom line improve by 10 percent to P37.2 billion from P33.9 billion a year ago.
Total revenues inched higher by 4 percent to P103.4 billion from P99.8 billion, with its mall business accounting for 59 percent of the top line.
During the period, the group spent P59.3 billion amid the rollout of more mall and residential projects.
