The company is investing P5 billion in SixE-com Center, located within the SM Mall of Asia Complex — underscoring SM Prime’s confidence in the Philippine real estate market amid evolving office space dynamics.
The office sector has seen elevated vacancy rates in recent quarters, largely due to the exit of Philippine Offshore Gaming Operators (POGOs), hybrid work trends, and organizational right-sizing.
Vacancy rates to peak in 2025
“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,” Alexis Ortiga, head of SM Offices and vice president of SM Prime said in a statement.
Despite recent headwinds in the industry, SM Offices has maintained strong occupancy levels, driven by sustained demand from BPOs (business process outsourcing), KPOs (knowledge process outsourcing), traditional firms, and multinational companies, the company said.
“POGOs are not part of our tenant mix,” Ortiga added. “Our office towers are designed for clients who prioritize operational efficiency, employee well-being, and sustainability.”
Integrated lifestyle amenities
The pre-certified LEED Gold project will add more than 60,000 square meters of leasable space across two linear towers.
Designed by global architecture firm Arquitectonica, the SixE-com Center will feature integrated lifestyle amenities, including SM’s signature Prism Plaza sky garden and a retail arcade.
It will also offer direct access to key transport links such as the upcoming MRT-3 and LRT Cavite Extension, and is connected via elevated walkways to SMDC residences and the Mall of Asia.
As of 2024, SM Offices operates 22 towers totaling 1.6 million sqm of gross floor area, with five towers LEED-certified. — Ed: Corrie S. Narisma
