SM Prime eyes Q3 deal for landmark Makati project

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May 2, 2026 | 12:00am

MANILA, Philippines — Integrated property developer SM Prime Holdings Inc. is looking to seal its strategic partnership with an experienced local player in the next few months for a landmark development in Makati under its new premium primary residential brand.

“We’re not ready to disclose yet. Hopefully, we can disclose by the third quarter, at the latest,” SM Prime executive vice president and Signature Series group head Jose Juan Jugo told The STAR.

Last year, SM Prime teased a potential partnership with a local player, noting that the company has stayed long in the local market and holds a presence in the market it aims to enter.

Jugo said discussions with the prospective partner are “all alive.”

“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.

Located in an upscale enclave, the planned project to be developed in a less than one-hectare property in Makati places Signature Series in one of the most desirable luxury residential areas in the country.

Earlier, it was rumored that luxury real estate developer Shang Properties would be SM Prime’s partner for the project.

Signature Series by SM Residences is SM Prime’s premium primary residential brand, launched last year.

The company’s expansion into premium primary residential represents a natural progression, as it has built extensive experience in creating upscale environments through its mall developments, office buildings, hotels, and leisure properties.

Its entry into the segment will also allow the company to serve every market segment, ranging from economic housing to ultra-luxury residences.