SM Prime Holdings Inc., through its premium residential brand M Prime, announced the upcoming launch of its first luxury project in Makati, signaling its formal entry into the high-end residential segment. The development will be located in one of the city’s most exclusive enclaves, addressing growing demand for upscale urban living.
Jose Juan Jugo, executive vice president at SMDC, said the project represents a strategic move to tap into the underserved premium primary residential market. “We are entering this space to make a new mark, harnessing SM’s strong organization, resources, and commitment,” Jugo said.
The development, part of the brand’s Signature Series, is being finalized in partnership with an unnamed key player in the luxury real estate sector. Jugo emphasized the scarcity of prime land in Makati and noted that the project is designed to be future-proof and hold long-term value for high-net-worth buyers.
According to Colliers Philippines, Makati’s central business district maintains high demand for luxury residences, with less than 1 percent of ready-for-occupancy condos unsold and office vacancy rates at just 8 percent. Colliers further noted continued resilience in the luxury and ultra-luxury segments, especially for units priced above ₱12 million, driven by investor interest in premium features, sustainability, and capital appreciation.
The new M Prime residences will also cater to evolving post-pandemic preferences, including larger unit layouts, comprehensive amenities, and wellness-focused features such as green building technologies, smart home systems, and expansive green spaces.
The project positions SM Prime to compete directly in the top-tier residential market, leveraging its development expertise and market reach to cater to a growing segment of affluent, discerning buyers.
