SM Prime Holdings Inc. is in talks with a local strategic investor to develop a luxury property in Makati City, the company said Thursday.
The planned development, under SM Prime’s premium residential brand Signature Series by SM Residences, will be on a plot of less than one hectare within the Makati central business district.
While the company did not disclose the location, analysts believe it could be a parcel of land situated across the Rockwell Center.
Jose Juan Jugo, executive vice president and Signature Series Group head, said the potential partner has operated in the local market for years, catering to the high-end segment.
“This potential partner we are speaking with will bring the best value into that partnership,” Jugo said.
He noted strong demand for premium primary residences, a market the Signature Series brand plans to target. The project is slated for launch by the first half of 2027.
Makati has limited land for new developments, which has contributed to higher property values and growing interest in new premium offerings.
“Signature Series is all about creating value. 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,” Jugo said.
Market data from Colliers Philippines supports continued demand in Makati’s residential sector.
A first-quarter 2025 report showed that less than 1 percent of ready-for-occupancy condominium units in Makati’s central business district remain unsold. Office vacancy in the area also stayed low at 8 percent.
Colliers noted strong performance in the luxury and ultra-luxury condominium segments. Post-pandemic trends have shifted buyer preferences toward larger spaces, comprehensive amenities and features that promote wellness and sustainability, Jugo said.
“We see strong demand from high-net-worth individuals and families,” he said.
“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.
