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Manila Bulletin devider Business devider The Stock Market devider Wealthy millennials, Gen X fuel rush for condo units at SM Prime's coastal retreat

Wealthy millennials, Gen X fuel rush for condo units at SM Prime's coastal retreat

Published Jun 17, 2026 11:22 am
SM Leisure Resort and Residences (SM LRR), a unit of SM Prime Holdings, Inc. (SM Prime), has nearly sold out its Balea Suites at the ₱3-billion Pico Terraces in Hamilo Coast and is on track to turn them over to buyers by the fourth quarter of 2027.
Balea Suites is the second residential offering in the five-building Pico Terraces community, following the successful 2023 launch of Ardea Suites. Both towers topped off in April 2025.
“Market reception for Balea Suites has been strong, with most units already taken up. The distinct seaside setting, exclusivity, and amenities of Hamilo Coast make the project a compelling option for discerning buyers,” said Imee Francisco, SM Prime Senior Vice President and Head of Costa del Hamilo, Inc.
Designed as a “resort within a resort,” Pico Terraces offers residents private amenities while remaining seamlessly connected to the wider 5,900-hectare Hamilo Coast estate. Residents also enjoy exclusive access to the Pico de Loro Beach and Country Club through bundled club shares included with unit ownership.
According to SM LRR, Pico Terraces has gained significant traction among Millennial and Gen X buyers from southern Metro Manila and nearby urban areas. These buyers are primarily seeking right-sized secondary homes in a low-density coastal setting that offers a clear, long-term value proposition.
“Buyers are responding to Pico Terraces because it offers an accessible entry point into elevated, nature-inspired living,” Francisco explained. “Pico de Loro’s sea-and-mountain setting gives the project a distinct sense of place that is difficult to replicate.”
Beyond beachside leisure and lush mountain landscapes, the development features swimming pools, fitness areas, and landscaped picnic grounds designed to create a quieter, more relaxed residential environment.
This market appeal has also earned industry recognition. Pico Terraces was recently named Best Condominium Development (Luzon) at the 2025 PropertyGuru Philippines Property Awards and Best Resort Condominium Development at the 2025 DOT Property Awards. PropertyGuru specifically highlighted the project's thoughtfully integrated layout, where leisure, comfort, and convenience are seamlessly woven into the development to provide an elevated seaside lifestyle. (James A. Loyola)

Related Tags

SM Prime Holdings Inc. SM Leisure Resort Residences Costa del Hamilo Inc. Imee Francisco
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