Monday, March 4, 2024

SM Commercial Properties Group In Full Swing, Expands Developments

thecityslick.com

SM Commercial Properties Group In Full Swing, Expands Developments

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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.

According to recent Property Report, 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.

“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% 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.

In addition, the SM Commercial Properties Group is expanding its SM Warehouses portfolio to Calamba (Laguna), Paranaque, Taguig, and Tarlac, adding to its current stock in Silangan (Laguna), North Harbor (Manila), and Pasig. It 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.

SM Prime’s Commercial Properties Group continues to uphold the company’s thrust towards community building by creating more sustainable structures and amenities, while providing the safety, convenience, and holistic experiences that its partners, stakeholders, and customers have come to expect from SM Prime developments.

“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 Commercial Properties Group 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,” summarizes Ortiga.