Premium residential project in Makati nears strategic partnership deal

A major property developer is finalizing a strategic partnership for a landmark luxury residential project in Makati City’s upscale enclave, positioning the development in one of the most coveted addresses in the country.

Company officials said the planned project will target the premium primary residential market, which they believe remains underserved despite strong demand from high-net-worth individuals and families.

“The availability of prime land in Makati is extremely scarce, which pushes up the value of existing luxury properties and makes new developments highly anticipated and priced at a premium,” an executive noted.

Citing Colliers Philippines’ first-quarter 2025 report, the firm said Makati’s central business district has less than 1 percent of unsold, ready-for-occupancy condominium units and a low office vacancy rate of around 8 percent, underscoring sustained demand for upscale living.

Shares of the developer’s parent company slipped %u20B10.30, or 1.26 percent, to %u20B123.50 each on Thursday.