SM Prime strengthens its position in the office building industry with new property
After the successful turnover of Five E-ComCenter, the Commercial Properties Group (CPG) of SM Prime Holdings, Inc. (SMPHI) once again gears up for the addition of another E-com building within their growing portfolio of commercial properties.
SMPHI, an affiliate of the SM Investments Corp. (SMIC), has invested 4 Billion in the Tri-tower FourE-com Center. This is the fifth building under the E-com brand which officially breaks ground this January and is set for completion in 2020.
“The demand for office space remains aggressive thanks to the continued economic growth of the country. Strong interest remains due to more investors realizing the potential of the Philippines for their business. Our job is to provide them with a good office space for their operations,” said David L. Rafael, Senior Vice President of SMPHI – CPG.
He continued, “Companies are more selective now with their office locations whether it be for expansion or relocation. They are critical in analyzing traffic, safety, and accessibility of their site even the lifestyle and well-being of their employees. The competition now is all about the overall quality of the area and not just the building.”
Similar to One, Two, Three, and Five E-Com, the FourE-ComCenter in the Mall of Asia Complex is designed to address the demand for office buildings in the country. It will have a gross floor area of 123,968.00 sqm and is projected to generate PHP 700 Million in gross rental revenues annually.
A 16-storey building, Four E-Com has a full basement, 4 podium parking, and 11 office levels. Retail spaces are offered at the 5th-floor podium and ground levels. The building’s design concept will portray crystal formations, with three adjacent towers springing from a common podium. The building will have a distinct rhombic shape as well as flat and inclined surfaces layered over grids to resemble crystals. Like the other E-Com buildings, it will also feature a landscaped deck at the 5th-floor podium.
The E-Com centers, located within the Mall of Asia Complex, it is just a few minutes away from the Ninoy Aquino International Airport and is accessible via public transportation routes like MRT, LRT, and buses that ply EDSA. Sea travel is also available at the ferry terminal located at the same complex.
From lifestyle center to an integrated township
This latest development is in line with the growth and expansion of the Mall of Asia Complex (MOAC). Its original reputation was cemented as a lifestyle hub but is now progressively growing into a center complete with business and residential prospects. The E-Com Centers within the complex plays a pivotal role in the continuous exploration of MOAC’s business landscape.
“We are aiming to create a township that can stand on its own,” Rafael shared. “What we are going for is a friendly workplace environment that means business while also catering to the social needs of employees. That is why we are anchoring the E-Com brand’s growth together with that of Mall of Asia complex.”
The entire complex includes SMX Convention Center and SM Arena, two of the metro’s most in demand venues for conferences, concerts, and exhibits; Mall of Asia, which holds the record of being the largest retail space in the country, and leisure developments like Microtel, and the soon to be operational Conrad Hotel and Tryp Hotel.
Within close proximity are residential developments like SM Residences (Sea, Shell, Shore and Shore 2) and other billion-dollar integrated resorts and mixed-use developments that are already operational and slated to open in the Bay City. A few are City of Dreams Manila, Solaire Resort and Casino, Aseana City, and Double Dragon Plaza.
Progressive developments underway
Together with the growth of the township’s business area are strategic lifestyle projects and redevelopments. Mall of Asia’s entertainment mall will have an additional floor while the main mall will be expanded with two new floors. To provide a full experience to lifestyle chasers, a FIFA regulated Football Field will be built on the main mall’s fourth floor as well as a botanical garden on the third and fourth levels.
Another project that is already in the pipeline is The Galleon which will be a joint project by SM Lifestyle Entertainment Inc. and the Mexican embassy. This new destination symbolizes the bountiful Manila-Acapulco trade and will house a museum, theaters, and additional retail and food destinations. In the area of performing arts, a 2,000 seating capacity Theater and bowling ground will be slated to open in the Planetarium parking.
These developments are supported by expansions of infrastructure that can make the experience richer for the community. Additional two floors will be added to both the North and South Parking building as well as a CAAP accredited Helipad at the South Parking Building.
In addition, a pedestrian footbridge will serve as a bridge way that will connect the corporate office building to the lifestyle and parking spaces of the complex. A better overall transport experience will be provided by the new expressways within NAIA that will make the Mall of Asia township more accessible.
Rafael closes, “The country has promising potential for growth. But as the industry grows, so is the need for better infrastructure to support it. You have to look beyond the norm to encourage this development. A holistic approach to office spaces can expand this even more.”
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, convention centers, and other leisure-oriented projects.