The growth of the infotech-business process outsourcing (IT-BPO) industry has led to an increase in demand for office spaces. Narrowing the demand and supply gap drove SM Prime Holdings, Inc. in the development of Five E-com Center, the recently completed office building under SM Prime’s six-building hub at the Mall of Asia Complex.
“The Philippines provides a competitive and desirable landscape for companies,” says Senior Vice President of SM Prime Holdings Inc. Dave Rafael. “We have the skilled manpower and an ideal environment that these industries need; as such, many foreign investors are taking notice.”
Five E-Com Center is already 95% occupied with high-profile tenants such as Telstra, Teletech, Vestas, Tupperware, Klaveness and Xerox.
The country’s economy has been seeing a steady winning streak with significant contributions from key growth drivers, one of which is the continuously growing IT-BPO industry. This sector is forecasted to earn US$25 billion in revenues and employ 1.3 million and 3.2 million Filipinos directly and indirectly by 2016, accounting for about 8 percent of the Philippines’ GDP.
The IT-BPO sector’s export revenue more than doubled between 2008 and 2014 and has now reached an estimated $13.3 billion. The steady rise in the demand for outsourced services from gaming and animation, healthcare information management, and global in-house center segments is expected to lend buoyancy to the Philippine economy.
Designed by Miami-based architectural firm Arquitectonica, FiveE-Com also represents SM Prime’s primary goal of environmental sustainability with its green features.
Additionally, the building provides a complete working environment that includes lifestyle opportunities for employees. It houses Prism Plaza, a podium area that combines a landscaped deck, pond, and retail spaces. “We want to create a self-sustaining community for office workers so we designed Five E-Com in a way that it also provides for the daily needs of employees for food, supplies, and relaxation spots of workers,” Rafael explains.
Five E-Com Center is the third building in the planned e-commerce complex by SM Prime. Previously opened centers are the One E-Com in 2008 and Two E-Com Center in 2012. It is a 15-level building with a gross floor area of 126,907 square meters and a leasable area of approximately 88,000 square meters.
SM Prime Holdings Inc. is the property subsidiary of listed conglomerate SM Investments Corp. The E-Com centers are included in the township of the Mall of Asia Complex.
About SM Prime:
SM Prime Holdings, Inc. is the property arm of SM, which has major business interests in banking and retail apart from the property segment. SM Prime has developed malls, residences, offices, hotels and convention centers, and other leisure-oriented projects.