SM Prime Holdings Inc. said it expects to complete its P5-billion SixE-com Center in the Mall of Asia (MOA) Complex by 2026.
A pre-certified Leadership in Energy and Environmental Design (LEED) Gold development, SixE-com Center will have over 60,000 square meters (sq.m.) of leasable space across two towers.
The real estate developer in a statement on March 20 said the project reaffirms its “confidence in the Philippine real estate market.”
The company closed 2024 with 22 office towers, with a gross floor area (GFA) of nearly 1.6 million sq.m., around 667,000 sq.m. of which are in the MOA Complex. Five of the towers are LEED-certified.
“We expect office vacancy rates to peak in 2025 as the market adjusts after the POGO (Philippine offshore gaming operations) exit. With business outlook improving and interest rates easing, we see demand picking up by 2026,” said Alexis Ortiga, SM Prime Holdings head of SM Offices, the company’s office space portfolio arm.
Ortiga said SM Offices maintains strong occupancy, supported by demand from traditional companies, multinationals, and firms in business process outsourcing (BPO) and knowledge process outsourcing.
“POGOs are not part of our tenant mix. Our office towers are designed for clients that prioritize operational efficiency, employee well-being and sustainability,” he said.
Ortiga noted that property analysts attributed the elevated vacancy rates in the country to the 2024 exit of POGOs, apart from hybrid work arrangements and corporate right-sizing.
Designed by the globally renowned architectural firm Arquitectonica, SixE-com Center is a mixed-use development that integrates lifestyle amenities, including SM’s signature E-Com Center “Prism Plaza” sky garden and a retail arcade.
SixE-com Center provides direct access to major transport links, including the upcoming MRT-3 and LRT Cavite Extension. It is also within walking distance of the SM Mall of Asia and SMDC residential towers via elevated bridgeways.
