SM Prime eyes completion of Pico Terraces in Batangas by 2027

LISTED real estate developer SM Prime Holdings, Inc. said its Pico Terraces mid-rise residential project in Batangas is slated for completion by December 2027.

Pico Terraces is a multi-tower development located across a 2.3-hectare area at Hamilo Coast in Batangas, SM Prime said in a regulatory filing on Tuesday.

The project is under SM Prime unit SM Leisure Resort Residences. It features 211 units consisting of one-, two-, and three-bedroom layouts.

“Pico Terraces is designed for families and individuals seeking a balanced lifestyle with forested landscapes as their constant backdrop,” SM Leisure Resort Residences Executive Vice-President and Business Unit Head Shirley C. Ong said.

“It places you far enough to truly disconnect yet close enough to come and go with ease,” she added.

Pico Terraces is located within Pico de Loro Cove and is also near Pico Beach as well as the Pico de Loro Beach and Country Club.

Pico Terraces allots 80% of its land to open spaces. Amenities include a 500-square meter cascading pool complex, a nature trail, an outdoor fitness lawn, indoor gym, and a multi-purpose green.

The property also has a private theater, game room, a clubhouse with al fresco dining pavilions, barbecue stations and a landscaped events garden.

“Pico Terraces is a premium coastal development that moves to the rhythm of nature — unhurried, grounded and deeply attuned to how people truly want to live today,” Ms. Ong said.

SM Prime has allotted P100 billion in capital expenditure this year, of which P67 billion will fund SM Residences and integrated property developments such as regional, premium, and leisure projects.

On Tuesday, SM Prime shares rose by 0.46% or ten centavos to P22 apiece. — Revin Mikhael D. Ochave