SM Prime Holdings Inc. continues to bet on the expected rebound of the commercial real estate market as the economy bounces back.
“The launch of FourE-com Center and our upcoming developments comes 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 (information technology-business process outsourcing), and logistics segments,” said Alexis Ortiga, SM Prime business unit head for the commercial properties group.
Ortiga’s team is responsible for the development, leasing and management of various product lines, including SM Estates, SM Offices and SM Warehouses across the country.
Ortiga said SM Prime is seeing “a steady recovery” in the office market that the company will continue to launch project in this segment.
‘SM Prime has its hands full gearing up for a bullish future, implementing a growth strategy that intends to take advantage of a robust business environment.’
“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,” he said.
SM Offices is scaling its business this year, targeting global companies, the Philippines’ top corporations and the retail locators, he added.
“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,” he said.
SM Offices captured more than 80 percent of all closed office transactions in the Bay Area last year — a testament to the SM Mall of Asia Complex’s (MOAC) complete positioning as a magnet for entertainment, residence, retail and work, Ortiga added.
“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 said.
SM Prime is also expanding its SM Warehouses portfolio to Calamba in Laguna, Parañaque, Taguig and Tarlac, adding to its current stock in Silangan in Laguna, North Harbor in Manila and Pasig.
The company is also making headway for more exciting line-ups in the Central Visayas Region thru its SM Seaside Complex Cebu, which is fast becoming an events mecca for concert goers in the region and will see significant developments in the coming years — replicating SM Prime’s success with the SM Mall of Asia Complex, Ortiga said.
“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, SM Prime has its hands full gearing up for a bullish future. We are implementing a growth strategy that intends to take advantage of a robust business environment and one that will continue SM Prime’s commitment towards nation building and including sustainable developments for future generations of Filipinos,” he said.
