SM PRIME Holdings, Inc. will be unveiling its newest office
building in the Mall of Asia complex in Pasay City this Friday,
alongside the topping off of its other office project in the area.
The listed property developer and mall operator said in a statement
on Wednesday that it would launch ThreeE-Com Center, opening with 97% of
its 114,000-square meter floor area leased out.
At the same time, the Sy-led firm will hold the topping off ceremony
for FourE-Com Center, which is slated to be its largest office building
to date with a gross floor area (GFA) of 190,000 sq.m.
“The launching of ThreeE-Com Center and the topping off of FourE-Com
Center mark another milestone for SM Prime as these uniquely designed
business centers add to the already captivating architectural landscape
in the Mall of Asia Complex, as well as offering ample office space
suitable for the growing needs of the outsourcing industry and other
businesses,” SM Prime President Jeffrey C. Lim said in a statement.
Located at the corner of Harbor Drive and Bay Shore in the MOA
complex, ThreeE-Com Center is a 15-storey twin-tower development
accredited by the Philippine Economic Zone Authority. Its office spaces
are located from the fifth to 15th floors, with the second to fourth levels dedicated for podium parking.
The project will also house retail establishments like Alfa Mart,
Starbucks, Tim Hortons, Mei Yu Restaurant, and a BDO bank on the ground
level.
ThreeE-Com Center carries a Gold certification in Leadership in
Energy and Environmental Design (LEED), indicating that its facilities
are environmentally friendly.
The opening of ThreeE-Com Center will bring SM Prime’s total GFA to
around 595,000 sq.m., as it currently operates 10 office buildings
situated across Makati, Pasay, Quezon City, Taguig, Clark in Pampanga,
Taytay in Rizal, and Sta. Rosa in Laguna.
Meanwhile, FourE-Com Center will feature three towers with 15 storeys
each. It offers a 3,000 sq.m. floor plate which is the typical demand
for various companies, primarily technology-based ones.
The project boasts of a crystal-like design, and is in the process of
getting certification for LEED standards as well. SM Prime expects to
open the building in 2019.
The E-Com Center projects form part of SM Prime’s Commercial
Properties Group, which handles the development and leasing of office
buildings in the country. The company’s core business is in the
development of malls, 71 of which are located in the Philippines and
seven more in China.
SM Prime grew its net income by 16% to P16.62 billion in the first
half of 2018, driven by the provincial expansion of its mall business as
well as higher demand for residential properties. Revenues also picked
up 15% to P49.77 billion during the period.
Shares in SM Prime jumped 3.22% or P1.15 to close at P36.85 each at the stock exchange on Wednesday. — Arra B. Francia
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