SM Prime’s Commercial Properties Group is expanding its footprint in Metro Manila to address growing demand for commercial properties.
The group has successfully launched its newest pre-LEED certified building, FourE-com Center, as SM Commercial Properties hitches a ride on the rebounding property market and growth trajectory of the Philippine economy.
“The launch of FourE-com Center and our upcoming developments come at an opportune time, owing to renewed appetite for fresh and meaningful experiences, increased consumer spending, continued rebound in travel and domestic tourism, and growing demand in the traditional office, IT-BPO, and logistics segments,” said Alexis Ortiga, Business Unit Head for the Commercial Properties Group.
The group spearheads the development, leasing, and management of various product lines, including SM Estates, SM Offices, and SM Warehouses across the country.
SM Offices alone is adding another office building in the SM Mall of Asia Complex in Pasay, the SixE-com Center later this year.
“We’re seeing a steady recovery in the office market. As such, our robust pipeline of office projects in and outside of Metro Manila will cater to the strong position of the IT-BPO sector and other growing segments, such as healthcare, logistics, telecommunications, government, industrial and financial services,” added Ortiga.
Ortiga said SM Offices has captured more than 80 percent of all closed office transactions in the Bay Area last year.
“This is a testament to the SM Mall of Asia Complex’s (MOAC) complete positioning as a magnet for entertainment, residence, retail, and work. A lot of global and local companies realize that the MOAC Estate is less congested and more accessible than other cities in Metro Manila, thus the increasing preference to locate their businesses here,” Ortiga also said.
The group’s SM Warehouses is also expanding its portfolio to Calamba (Laguna), Paranaque, Taguig, and Tarlac, adding to its current stock in Silangan (Laguna), North Harbor (Manila), and Pasig.
It is also making headway for more exciting line-ups in the Central Visayas Region through its SM Seaside Complex Cebu.
“As we’ve been seeing from first quarter performance results across a majority of industries, e-commerce, retail, logistics, and outsourcing activities have outperformed the same period year on year. And as we confidently move forward from the Pandemic,” Ortiga also said.
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