SM Prime opens up 31,000 sqm of space

SM Prime Holdings Inc. is expanding its office portfolio in Quezon City with the addition of a new tower accredited with the Philippine Economic Zone Authority (Peza) as the firm bets on sustained demand for high-quality workspaces despite limited new supply in Metro Manila.

The Sy-led property giant said on Friday that its commercial leasing arm, SM Offices, is developing North Tower 3 within the SM North Edsa Complex, adding about 31,000 square meters of Peza-accredited office space to the market.

READ: Reclamation seen as SM Prime’s next growth engine

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The 22-story office tower is scheduled for completion in the second half of 2026, at a time when the pipeline of new Peza-accredited office developments in Metro Manila remains constrained.

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SM Prime said demand continues to come from companies that seek locations which provide access to tax incentives, efficient transport links and employee-friendly environments.

“Companies today are becoming more intentional about where they locate their operations,” said Alexis Ortiga, vice president and head of SM Offices.

“Aside from office space, they are looking for environments that help improve efficiency, accessibility and overall business resilience,” Ortiga added.

The company said North Tower 3 is among the few remaining large scale Peza-registered office developments in Quezon City.

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The project forms part of the latest expansion of the SM North Edsa Complex and is expected to benefit from its proximity to major transportation infrastructure.

It will be directly linked to the upcoming North Triangle Unified Grand Central Station, which will connect LRT Line 1, MRT Line 3, MRT Line 7 and the Metro Manila Subway.

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The development is also located near the North Edsa Busway Concourse and the Edsa elevated pedestrian walkway, improving accessibility for workers and tenants.

SM Prime said the tower would incorporate energy-efficient technologies, optimized daylighting, water-efficient fixtures and sustainable building materials as part of its effort to deliver future-ready workspaces.

The company added that it is working with the Quezon City government to promote incentives under the Quezon City Economic Development Incentives Code, which grants qualified businesses fiscal benefits for expansion, relocation and long-term investments.

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North Tower 3 will also sit within SM Prime’s integrated development ecosystem, placing tenants near retail, hospitality and residential projects such as SM North Edsa, Park Inn by Radisson North Edsa and Grass Residences. INQ