In 2025, the company will add over 85,000 square meters of new leasable office space in Cebu and Bacolod, catering to a growing number of businesses seeking to expand beyond Metro Manila.
To further bolster its portfolio, SM Offices has earmarked ₱6 billion in capital expenditures to develop new towers and modern workspaces — including the Six E-Com Center, a Grade A office tower in the Mall of Asia Complex designed for technology-driven industries and BPO firms.
This push for growth comes amid a continued “flight-to-quality” trend, with companies prioritizing premium, well-located office spaces that offer convenience and flexibility.
As of January 2025, occupancy rates at 15 of its mall-integrated offices across the country stood at 95 percent, underscoring a strong “flight-to-quality” trend that favors premium spaces in mixed-use developments.
“The flight-to-quality trend is fueling demand for high-quality, well-located corporate spaces, giving SM Offices a competitive edge,” said Alexis Ortiga, head of SM Offices.
SM Offices operates both standalone office towers adjacent to SM malls and office spaces within mall complexes. This integrated setup gives tenants seamless access to public transportation, dining, retail, and leisure options — a significant draw for businesses looking to enhance employee satisfaction and operational efficiency.
“Since in-person work resumed in 2022, more companies in the Philippines have prioritized office spaces that offer employee convenience and accessibility,” Ortiga explained.
The firm’s regional growth strategy is also paying off. With all its regional sites connected to SM malls and residential areas, SM Offices continues to attract traditional firms and BPOs looking to tap into cost-efficient provincial locations and a broader talent pool.---Ed: Corrie S. Narisma
