SM Leisure Resort and Residences, a unit of SM Prime Holdings Inc., on Wednesday said it was on track to turn over Balea Suites, an upscale residential tower within its Hamilo Coast estate in Batangas, by the fourth quarter (Q4) of 2027.
“Market reception for Balea Suites has been strong, with most units already taken up,” Senior Vice President Imee Francisco said.
Balea Suites forms part of the P3-billion Pico Terraces development, the second residential offering in the five-building community following the launch of Ardea Suites in 2023.
Both towers reached their topping-off milestone in April 2025.
Located within the 5,900-hectare Hamilo Coast estate, Pico Terraces was designed as a “resort within a resort,” providing residents with private amenities, while offering access to the broader leisure facilities of the estate.
Unit owners also receive bundled club shares that provide access to the Pico de Loro Beach and Country Club.
SM Leisure Resorts and Residences said the project was attracting millennials and Gen X buyers from southern Metro Manila and nearby urban areas looking for vacation homes and long-term investment properties.
The development was recognized during the 2025 PropertyGuru Philippines Property Awards, where it was named Best Condominium Development (Luzon), and from the 2025 DOT Property Awards where it won Best Resort Condominium Development.
On Wednesday, SM Prime shares dropped P1.04 to close at P18.42 apiece.