SM Commercial Properties Group in full swing, expands developments

SM Prime’s Commercial Properties Group continues to serve the demand for world-class commercial properties by expanding its portfolio in Metro Manila and key regions across the country. After the successful launch of its newest pre-LEED certified building, FourE-com Center, SM Commercial Properties Group is riding 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 SM Prime’s 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.

The real estate segment is further buoyed by the reopening of the economy, thereby unlocking opportunities in the office segment for flexible workspaces and growing demand for outsourcing firms beyond Metro Manila.

NHMFC’S AMENDED SALARY STRUCTURE. The Governance Commission for GOCCs (GCG) led by Chairperson Justice Alex L. De Quiros (center), and Commissioners Atty. Gideon DV. Mortel (3rd from left) and Atty. Geraldine Berberabe-Martinez (6th from left), approves on Monday, 17 July 2023, the amended salary structure of the National Home Mortgage Finance Corporation (NHMFC) under the Compensation and Position Classification System (CPCS). The amended salary scheme will retroactively take effect from the initial implementation of CPCS on October 2021. NHMFC is the government ‘s sole Secondary Mortgage Institution under the Department of Human Settlements and Urban Development. The GCG is the central policy-making and regulatory body of Government Owned or Controlled Corporations.

“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.

This year, SM Offices is scaling its business to greater heights, catering to global companies, Philippines’ top corporations, and retail locators. In addition to its expanding provincial footprint, SM Offices is adding another marquee office building in the SM Mall of Asia Complex with the commencement of SixE-com Center later this year.

“SM Offices 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,” added Ortiga.