Last Updated on March 4, 2019 by
SM Prime’s MOA Complex touted to become a full-fledged business district
Property giant SM Prime recently announced the development of FiveE-com Center, its latest office development situated in the Mall of Asia (MOA) Complex in Pasay City. The 14-story project targets huge demand for office space from technology-based industries and business process outsourcing (BPO) companies.
According to David Rafael, Senior Vice President for SM Prime Commercial Property Group, the Philippines continues to be the star in Asia that’s why more and more foreign brands continues to invest in the country. “Even Telstra, the third major telco player to hit the Philippine shore, chose to locate in FiveE-com in the MOA Complex,” Rafael said.
“Our commitment to contribute to the growth of our economy is firm that we are investing heavily on infrastructure to cater to the demand of the BPO sector, which is currently on a winning streak,” he added.
Apart from announcing the next office building in the budding business zone, SM Prime reiterated that MOA Complex and the entire Bay Area is truly the next big destination for business, residential, and leisure. Major development plans are underway not only in SM Prime’s E-com Center projects but in the commercial and leisure projects surrounding it.
According to Rafael, the rapid development of the whole Bay City can even surpass the success of the Bonifacio Global City, currently Metro Manila’s third most important central business district. Rafael said. The Bay City is also considered the business gateway development as it is strategically located close to the Ninoy Aquino International Airport.
International hotel brands, casinos, and a wide range of leisure developments have also started pouring in to the Bay City. Among these notable projects include billion-dollar integrated resorts such as the City of Dreams Manila and Solaire Resort and Casino, and the mixed used developments like Aseana City and Double Dragon Plaza.
According to SM Prime, three more E-com buildings will soon be constructed in the MOA Complex. ThreeE-com, which will be the first Gold LEED Certified office project of SM Prime, is set to be completed in 2017; FourE-com and SixE-com, on the other hand, will be completed in 2018 and 2019, respectively.
In addition, data from global estate consulting firm Colliers International Philippines indicate that the Bay City will be home to almost half a million square meters of office space by 2018, a growth of 141 percent from its present office stock.
Main image via Shutterstock
