The Sy family’s flagship SM Investments Corp. is selling a prime lot near Malacañan in Manila to its property development arm, SM Prime Holdings Inc., while preparing a corporate vehicle for its first premium residential project under the newly launched Signature Series brand.

In a disclosure to the Philippine Stock Exchange, SMIC said its board of directors has approved the sale of SMIC's entire equity interest in Nagtahan Property Holdings, Inc. to SM Prime.

It added that the details of the transaction are yet to be finalized. The property is located at the end of Aurora Boulevard, beneath the Nagtahan flyover bridge, and is currently occupied by a branch of SM Savemore.

The SMIC board also approved the incorporation of a subsidiary company that will develop its Susana Heights property with SM Prime’s residential arm, SM Development Corp.

The massive 284-hectare Susana Heights property was acquired by SMIC from its private residential development subsidiary Intercontinental Development Corporation in exchange for SMIC shares.

SM Prime Executive Vice President and Group Head of Signature Series Jose Juan Jugo stated during the Signature Series launch last July that they will commence development of their masterplanned community in Susana Heights, adjacent to Ayala Alabang, for which the firm has committed an initial capital expenditure of ₱25 billion.

Given its prime location, Jugo said lot sizes will be sold at a minimum of ₱100 million each with cuts of no less than 750 square meters. The plan includes residential clusters, neighborhood retail, civic spaces, and pocket parks as well as an ultra-luxury village.

SM Prime Vice President and Head of Design, Innovation, and Strategy Jessica SySy said they have tapped different consultants, Filipino and foreign designers, for the project, so it will appeal to both the domestic and international market.

“In terms of design, we’re not just looking at what we want right now but how do you want to develop in the future…we will be looking for future value in terms of what makes it different from a regular SMDC or from our competitors.

“We are really bringing in an additional value for the long term. Our commitment is to be here for decades…we are going to be creating developments that are geared for future thinking, for how a family grows and for how lifestyles grow, but also how we can protect the investment for long term,” she explained.

Signature Series offers a diverse range of residential products: Entry-Level Premium (starting at ₱15 million) for property upgraders, young executives, and starter families; Upscale (starting at ₱25 million) for established professionals and affluent families; and Luxury and Ultra-Luxury (₱65 million and above) – curated for high-net-worth individuals and legacy families seeking the utmost exclusivity and refinement.