Manila Water Co. Inc. signed an agreement with SM Prime Holdings Inc. for the waterworks of the property developer’s projects.

The water utility told the Philippine Stock Exchange on Thursday that the memorandum of agreement was signed on Tuesday between Manila Water’s wholly-owned unit Manila Water Philippine Ventures (MWPV) and SM Prime and its subsidiaries and affiliates SM Development Corp. and SM Residences Corp.

Under the agreement, “MWPV will provide the water and used water service and facilities to the property development projects of SM Group.”

Manila Water Head of Investor Relations Patricia Pineda said that MWPV will services the identified projects of SM Prime.

The deal is similar with agreement the water utility has entered into with Ayala Land Inc., she said.

“The objective of the parties in entering into the agreement is to leverage on their respective expertise in order to provide the optimal service and facilities for their customers and clients,” Manila Water said.

Manila Water holds the east zone concession encompassing parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, and portions of Manila.

It also serves the water requirements of Rizal province that includes the towns and cities of Angono, Antipolo, Baras, Binangonan, Cardona, Jala-Jala, Morong, Pililia, Rodriguez, San Mateo, Tanay, Taytay and Teresa.

Manila Water has three other subsidiaries, namely Laguna AAA Water Corp., Boracay Island Water Co. and Clark Water Corp.