 SM Offices, a business unit of SM Prime Holdings, is moving forward with its latest office development, SixE-com Center, reaffirming its confidence in the Philippine real estate market. The SM Prime unit is spending P5 billion to build SixE-com Center within the SM Mall of Asia (MOA) Complex. A pre-certified LEED Gold development, SixE-com Center will offer over 60,000 square meters of premium leasable space across two linear towers. The project is set for completion by 2026.
“We expect office vacancy rates to peak in 2025 as the market adjusts after the POGO exit. With business outlook improving and interest rates easing, we see demand picking up by 2026,” said Alexis Ortiga, Head of SM Offices and Vice President of SM Prime Holdings. Real estate industry analysts have reported elevated vacancy rates, attributing it to the 2024 exit of Philippine Offshore Gaming Operators (POGOs), hybrid work arrangements and corporate right-sizing. SM Offices maintains strong occupancy, supported by demand from traditional companies, multinationals, and firms in business process outsourcing (BPO) and knowledge process outsourcing (KPO). “POGOs are not part of our tenant mix,” Ortiga explained. “Our office towers are designed for clients that prioritize operational efficiency, employee well-being and sustainability.” 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. As of 2024, SM Offices operates 22 office towers with a gross floor area of nearly 1.6 million square meters, around 667,000 square meters of which are in the MOA Complex. Five of its towers are LEED-certified |
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