SM widens office footprint in Laguna

Launches P1.6 billion building in Sta. Rosa

MANILA, Philippines —  The Sy family’s SM Prime Holdings Inc. is picking up pace in building office spaces outside of Metro Manila, this time launching a P1.6-billion, three-tower development in Sta. Rosa, Laguna.

SM Offices, the commercial property arm of SM Prime, yesterday said leasing activities for The Core Tower Three have begun, marking another expansion in the provinces.

SM Offices head Alexis Ortiga said the property would boost Southern Tagalog’s attractiveness to business process outsourcing (BPO) firms looking to operate outside of Metro Manila.

The Core Tower Three is located in the SM City Sta. Rosa complex, and the property cost P1.6 billion to build. The property is a three-tower development with more than 27,000 square meters in office spaces.

To date, SM Offices handles a total leasable footprint of over one million sqm in the Philippines, with at least a fifth situated  in growth corridors beyond Metro Manila.

Ortiga is confident that The Core Tower Three will gain interest from mostly BPOs for location and talent purposes.

Based on data from the Philippine Statistics Authority, Southern Tagalog contributed 14.7 percent to  the country’s gross domestic product in 2024.

During the same year, the region recorded a labor force of nearly eight million, making it one of the most enticing areas to invest in for its talent pool.

“The Core Tower Three reflects the growing demand for future-ready office spaces in regional growth centers like Sta. Rosa, Laguna,” Ortiga said.

Each of the towers in the property are equipped with a 100-percent power supply backup. Further, the location is close to some of the major thoroughfares to the south of Luzon, such as the South Luzon Expressway and Cavite-Laguna Expressway.

Right now, SM Offices is working to lease out spaces to prospective tenants, with multiple firms already operational. Some of the early tenants cited location advantage and worker availability as their main reasons for locating in The Core Tower Three.

The property is expected to generate at least 6,000 jobs through tenant investments and building services.