SM Prime Holdings, Inc. announced that its office division, SM Offices, will expedite its office space growth in the Visayas this year to satisfy the rising demand.
SM Offices intends to incorporate more than 85,000 square meters of rentable space this year, propelled by increasing interest from both conventional and business process outsourcing (BPO) clients, as per a regulatory report released on Wednesday.
The office developer observed a growing fascination with provincial office establishments as organizations expand their activities beyond Metro Manila to tap into a larger talent pool and locate in more economical areas.
As of January, occupancy rates for its mall-based offices reached 95% across 15 locations throughout the country.
“The trend of seeking quality is driving the demand for premium, well-situated corporate spaces, giving SM Offices a strategic advantage,” stated Alexis L. Ortiga, Head of SM Offices.
“Each of our regional locations is linked to SM malls and residential complexes, enhancing their accessibility and appeal to businesses. This strategic benefit fuels our dedication to expand regionally,” he further explained.
SM Offices manages both independent office towers adjacent to SM malls and office spaces within malls, ensuring easy access to public transport, retail, dining, and entertainment options.
“Since the return to in-person work in 2022, many companies in the Philippines have emphasized office spaces that provide convenience and accessibility for employees. This approach enhances the efficiency and practicality of commuting to the office,” remarked Mr. Ortiga.
For the year 2025, SM Offices has earmarked P6 billion for the establishment of new office towers and workspaces, including the Six E-Com Center office tower within the Mall of Asia complex, tailored to meet the needs of tech-oriented industries and BPO companies.
Shares of SM Prime declined by 0.22% or five centavos, closing at P22.60 each on Wednesday. — Revin Mikhael D. Ochave
