SM Prime eyes 2027 turnover of Balea Suites

MANILA, Philippines – SM Prime Holdings Inc. is moving closer to completing another upscale residential project within its sprawling Hamilo Coast estate in Batangas, with turnover of Balea Suites at Pico Terraces targeted by the fourth quarter of 2027.

The Sy-led property giant said on Wednesday that its unit, SM Leisure Resort and Residences (SM LRR), remains on track to deliver the project, which forms part of the P3-billion Pico Terraces development.

Balea Suites is the second residential tower launched within the five-building Pico Terraces community, following the introduction of Ardea Suites in 2023. Both towers reached their topping-off milestone in April 2025.

SM Prime said market demand for the project has been encouraging, with most units already taken up.

“Market reception for Balea Suites has been strong, with most units already taken up,” said Imee Francisco, senior vice president and head of Costa del Hamilo Inc., the company behind the Hamilo Coast development.

Located within the 5,900-hectare Hamilo Coast estate, Pico Terraces was designed as a “resort within a resort,” combining residential living with access to private amenities and leisure facilities.

Unit owners will also receive bundled club shares that provide access to the Pico de Loro Beach and Country Club.

According to SM Prime, the development has been attracting millennials and Gen X buyers from southern Metro Manila and nearby urban centers who are looking for secondary homes in a low-density coastal community.

The project features swimming pools, fitness areas and landscaped picnic grounds, while benefiting from Pico de Loro’s beach and mountain setting.

Francisco said buyers have been drawn to the development because it offers an accessible entry point to what she described as “elevated, nature-inspired living.” INQ