SM Prime Holdings Inc. is set to open by the end of the year FourE-Com Center, its newest office project in the Mall of Asia Complex in Pasay City.
SM Prime said in a statement FourE-Com Center would emerge as the largest office building in the complex offering a gross floor area of 122,997 square meters of office space for lease.
Similar to SM Prime office projects in Mall of Asia, it will mainly cater to businesses seeking to take advantage of the benefits granted to eligible companies that locate in buildings accredited by the Philippine Econonmic Zone Authority .
The P4 billion Tri-tower FourE-comCenter is designed to address the demand for office buildings in the country. The first tower is expected to be completed by the fourth quarter of this year.
The office development is projected to generate P700 million in gross rental revenues annually.
A 16-story building, Four E-Com has a full basement, four podium parking, and 11 office levels. Retail spaces are offered at the fifth floor podium and ground levels.
The building’s design concept will portray crystal formations, with three adjacent towers springing from a common podium. The typical floor plate is approximately 2,500 sqm to 3,000 sqm.
SM Prime has 11 office buildings across several properties in Makati, Pasay, Taguig, Clark, as well as Taytay in Rizal and Sta. Rosa in Laguna, with a combined GFA of 622,611 sqm.
SM Prime is also set to launch the campus-office building named NU Tower.
SM Prime in September launched the ThreeE- ComCenter with a total gross floor area of 115,000 sqm. All office spaces have been leased out.
The property developer in October also launched SM CDO Downtown Tower in Cagayan De Oro City. The building offers premier office spaces with state-of-the-art facilities.
The company has an available land bank of 74 hectares for future office projects. SM Prime has been expanding office development within the Mall of Asia Complex as well as existing shopping malls.
SM Prime plans to build a portfolio of office towers with a total gross floor area of 793,000 sqm. By 2020.
Source: Manila Standard