SM Prime to spend P3B to build 12-hectare eco-resort in Nasugbu

SM Prime Holdings Inc.’s (SMPH) leisure resort–residences arm Costa Del Hamilo Inc. is set to spend P3 billion to build a 12-hectare flagship eco-resort community, called M Village, within Hamilo Coast’s Marina Estates in Nasugbu, Batangas.

In a regulatory filing, SMPH said Joel Luna Planning & Design has been tapped as the project’s master planner, while Wimberly Allison Tong & Goo (WATG) Singapore — the firm behind Regent Bali Canggu, Nobu Residences Los Cabos, and several Four Seasons properties — will serve as concept planner.

“M Village is a unique property because it combines upscale coastal living with seamless access to both nautical adventures and nature,” executive vice president and SM Leisure Resort Residences business head Shirley Ong said.

Ong noted that market reception has been strong, with buyers securing units ahead of the scheduled turnover in late 2028.

SM Prime earlier reported an 8% increase in its third-quarter net income to P12.8 billion, bringing its nine-month bottom line up 10% to P37.2 billion, as revenues rose 4% to P103.4 billion.

Its residential segment contributed P32.6 billion in revenues, down from P33.1 billion last year due to slower revenue recognition from mid-segment developments, while its hotels and convention centers posted the biggest growth at 9%, reaching P6.0 billion.

SM Prime has set a P100-billion capital expenditure program for the year, with the largest share allocated to integrated property developments under its residential and mall businesses.—MCG, GMA Integrated News