MAKATI CITY — A new contender is quietly preparing to enter Makati's ultra-competitive luxury real estate arena. SM Prime Holdings Inc., the country's integrated property powerhouse, is deep in talks for a "landmark" development under its premium Signature Series brand. The planned project will be built on a less than one-hectare property in an upscale enclave, placing the brand in one of the most desirable luxury residential areas in the country. For investors and homebuyers eyeing Makati's prime residential market, this development signals a major shift in the luxury landscape.
A Strategic Partnership in the Final Stages
The property giant is currently in the final stages of sealing a strategic partnership with an experienced local player. Jose Juan Jugo, SM Prime executive vice president and Signature Series group head, told The Philippine Star that discussions with the prospective partner are "all alive," though the deal is not yet closed. While the company is not yet ready to disclose the partner's identity, industry observers have pointed to luxury developer Shang Properties as a potential collaborator. The partnership is seen as a natural progression for SM Prime, which has built extensive experience in creating upscale environments through its mall developments, office buildings, hotels, and leisure properties. This move positions SM Prime to compete directly with established luxury developers in Makati's high-end residential segment.
Targeting a Q3 Announcement with Launch in 2027
Investors and market watchers can expect clarity on the partnership within the coming months. Jugo expressed optimism that an announcement could be made by the third quarter of the year at the latest. "But we're not done planning. We're not done closing the deal. But I'm very optimistic that if not by the first half of this year, then by the third quarter we should be able to make announcements," he said. The project is eyed for a launch in the first half of 2027, with SM Prime signaling its intent to become a major force in the country's ultra-luxury residential market. This timeline gives the developer ample room to finalize design, secure permits, and prepare a full-scale marketing campaign.
The Signature Series Brand: Filling a Market Gap
The Signature Series brand was launched to fill a gap in the premium primary residential market. Jugo explained that the brand aims to harness SM's strong organization, resources, and commitment to make a new mark in the luxury space. He added that a Signature Series property is intended to be future-proof and designed to appreciate in value, making it an asset that can be passed on to the next generation. The entry into this segment also allows SM Prime to serve every market segment, ranging from economic housing to ultra-luxury residences. For real estate investors, this represents a rare opportunity to acquire a unit from a developer known for delivering large-scale, well-planned communities.
Makati's Luxury Market: Scarcity Drives Demand
The timing of the development aligns with favorable market conditions in Makati. According to Colliers Philippines, the Makati Central Business District had less than one percent unsold ready-for-occupancy condos as of the first quarter of 2025, while office vacancy stayed low at around eight percent. This scarcity, combined with the city's status as a premier business and lifestyle hub, has fueled strong demand for upscale living spaces. The luxury and ultra-luxury segments, which include units priced above 12 million PHP, have remained resilient despite a broader condominium oversupply in other parts of Metro Manila. For buyers seeking a prime address in Makati's most desirable enclave, this upcoming project offers a fresh option in a market with limited new supply.
