SM Prime Readies turnover for Upscale Community Inside Beachfront Estate


SM Leisure Resort and Residences (SM LRR), a division of SM Prime Holdings, Inc. (SM Prime), is scheduled to deliver Balea Suites at Pico Terraces in the Hamilo Coast estate, Batangas, by the fourth quarter of 2027.

Artist’s perspective of Balea Suites at Pico Terraces.

Artist’s perspective of Balea Suites at Pico Terraces.

“Market reception for Balea Suites has been strong, with most units already taken up,” said Imee Francisco, Senior Vice President and Head of Costa del Hamilo, Inc. “The distinct seaside setting, exclusivity and amenities of Hamilo Coast make the project a compelling option for discerning buyers.”

Balea Suites, part of the P3-billion Pico Terraces development, is the second residential building in the five-tower community, following the successful launch of Ardea Suites in 2023. Both towers were topped off in April 2025.

Pico Terraces is designed as a “resort within a resort,” providing residents with private amenities while remaining connected to the 5,900-hectare Hamilo Coast estate. Owners also get exclusive access to the Pico de Loro Beach and Country Club through bundled club shares included with their units.

Pico Terraces has attracted attention from Millennials and Gen X buyers from southern Metro Manila and nearby urban regions. These buyers are looking for appropriately sized secondary homes in a low-density coastal environment that offers a compelling long-term value.

Balea Suites
Pico Terraces was conceived as a “resort within a resort,” blending the comfort of a residential community with quick access to exclusive amenities at Pico de Loro.

“Buyers are responding to Pico Terraces because it offers an accessible entry point into elevated, nature-inspired living. Pico de Loro’s sea-and-mountain setting gives the project a distinct sense of place that is difficult to replicate,” explained Francisco.

In addition to beachside leisure and lush mountain scenery, Pico Terraces offers swimming pools, fitness centers, and landscaped picnic areas, providing a calmer and more relaxing residential atmosphere within the estate.

The development’s market appeal has further earned recognition within the industry. Pico Terraces was recently awarded the title of Best Condominium Development (Luzon) at the 2025 PropertyGuru Philippines Property Awards and received the Best Resort Condominium Development accolade at the 2025 DOT Property Awards.

PropertyGuru praised Pico Terraces for its well-integrated “resort within a resort” concept, where amenities are smoothly incorporated into the development. Created to deliver a unique seaside environment and a high-quality residential experience, the project offers residents direct access to exclusive lifestyle amenities within Pico de Loro, combining leisure, comfort, and convenience in one location.

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Read: SM Prime Expands Tagaytay Highlands Midlands West District with P685M Trealva Scheduled for Turnover in Q2 2026





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It’s easy to assume that vehicles all had internal combustion engines until very recently. Gasoline and petrol engines were the standard for decades, after all, so why would early vehicles be any different? In reality, the early days of the automobile era were more varied than you might expect, and even featured a range of electric cars. Yes, despite electric vehicles not truly taking off until the 21st century, the first electric vehicles are much older than you think; drivers in the 1900s were going around town in electric vehicles — and where there are EVs, there are charging stations.

One such station, visible in the image above, was the creation of General Electric. Formally called the mercury arc rectifier, it took alternating current and sent it through vaporized mercury in a glass tube. This converted it into direct current, which powered up the EV’s battery. The woman in the image, who’s charging a Columbia Mark 68 Victrola, is standing at the control panel, which allowed a user to adjust power levels. 

These chargers could be installed everywhere, including homes, businesses, and public parking garages, supporting the electric vehicle boom of the early 20th century. While 21st-century EV chargers have come a long way from where they were, the basic building blocks are all still there, and it’s fascinating to see.

How EV chargers have evolved since the early 20th century

EV charging has changed a lot in some ways — but not in others. At the core of it all is the aforementioned conversion from AC to DC, which still happens when you charge modern EVs at standard charging stations. The difference is that your vehicle’s on-board charger performs the conversion, not the charger. Old EV chargers took between several hours and a day to charge, and current-day units can similarly take a few hours to well over a day from empty, depending on the charger’s speed. Fast chargers, which provide DC directly, can cut this down to around an hour or less.

Old-school and modern EV chargers also differ in how they provide power to the vehicle. Mercury arc rectifiers connected directly to the negative terminal of the lead-acid battery that needed charging. Nowadays, EVs use dedicated charging ports. Battery swapping was also commonplace in the early 1900s, and companies like General Electric tried to cash in by offering to replace drivers’ old, run-down batteries with new ones for a fee. That’s not yet possible with most mainstream EVs, although companies like Stellantis have tried to introduce EV battery swapping with moderate success.

Even if they were unrefined compared to today’s models, early EVs seemed to be on to something. Why, then, did electric cars fail, and how did gasoline end up becoming the predominant power source for vehicles?

What led to the downfall of the original wave of electric cars

EVs were no mere fad in the 1900s and 1910s. According to the 1900 United States census, 1,575 of the 4,192 vehicles sold that year were electric, with the value of these early EVs — $2,873,464 — accounting for more than half of the total market value of $4,899,443. It wasn’t just EVs, either; other sources of propulsion, like steam, were also vying for a foothold in the automobile market. By the 1920s and 1930s, though, these had all been superseded by the internal combustion engine.

One of the major drawbacks of early EVs was the fact that electricity was not yet widely available. Electrical hookups were a rarity outside of major cities, limiting the use of these vehicles. The lead-acid batteries they used also had their fair share of issues. They needed to be inspected, cleaned, and repaired every few days, making them more of an inconvenience than anything. Worse yet, they had poor mileage, and, with chargers possibly out of reach, many likely didn’t want to risk being stranded while out for a drive.

Eventually, price reductions for gas cars and improvements such as electric starters and better reliability prompted buyers and automakers alike to move away from electric rides. Thus, while the best-selling EVs of 2026 show that it’s a good time for EVs, this electric boom plainly isn’t the first of its kind. Early EVs eventually fizzled out, but they still set the stage for our current fascination with electric vehicles.





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