MANILA, Philippines – SM Prime Holdings (SMPH) is hatching a strategic partnership for what it envisions to be a “landmark” development in Makati under its newly-launched premium brand Signature Series.

“Located in an upscale enclave, this planned property places Signature Series in one of the most desirable luxury residential areas in the Philippines,” SMPH said in a disclosure to the Philippine Stock Exchange on Thursday.

The partnership is deemed as crucial given the extreme scarcity of prime land in Makati that in turn buoys the value of existing luxury properties.

SMPH did not identify the prospective partner or the exact location of the development.

Upscale market

“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,” said Jose Juan Jugo, SMPH executive vice president and Signature Series Group Head.

“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, Makati central business district has less than 1 percent unsold ready-for-occupancy condominium units. Office vacancy of 8 percent is relatively low compared with other business districts. /dda