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SM Prime Sees Strong Demand For Mall-Based Offices
- By The Financial District
- Apr 16
- 2 min read
SM Offices, the office development arm of SM Prime Holdings, is experiencing robust demand for its mall-based office spaces as businesses continue to seek mixed-use developments that combine workplace convenience with lifestyle amenities.
SM Offices operates both standalone towers adjacent to SM malls and integrated office spaces within mall complexes. I Photo: SM Offices Facebook
As of January, 15 of SM Offices’ mall-connected locations across the Philippines reported a 95% occupancy rate.
“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.
The company operates both standalone towers adjacent to SM malls and integrated office spaces within mall complexes, offering tenants access to retail, dining, and entertainment options, as well as public transportation — a key advantage for today’s workforce.
“All our regional sites are connected to SM malls and residences, making them highly accessible and attractive to businesses. This strategic advantage drives our commitment to regional expansion,” Ortiga said.
Since in-person work resumed in 2022, companies have increasingly prioritized office locations that enhance employee convenience and overall work-life balance. This shift has fueled growth not only in Metro Manila but also in provincial cities.
Ortiga noted that demand has been particularly strong among traditional firms and BPO companies expanding outside the capital to tap into broader talent pools and benefit from more cost-efficient locations.
To meet rising demand, SM Offices is ramping up its regional expansion, particularly in Cebu and Bacolod, where it is adding over 85,000 square meters of leasable office space this year.
For 2025, the company has allocated P6 billion to develop new office towers, including the Six E-Com Center, a Grade A facility located in the Mall of Asia Complex and tailored to the needs of technology firms and BPO tenants.
