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Manila Bulletin devider Business devider The Stock Market devider SM Offices expands in Metro Manila as PEZA-accredited spaces tighten

SM Offices expands in Metro Manila as PEZA-accredited spaces tighten

Published Jun 19, 2026 11:38 am  |  Updated Jun 19, 2026 01:37 pm
Artist’s perspective of North Tower 3, the newest PEZA-accredited office tower within the SM North EDSA Complex in Quezon
Artist’s perspective of North Tower 3, the newest PEZA-accredited office tower within the SM North EDSA Complex in Quezon
SM Prime Holdings Inc., the country’s largest property developer by market value, is expanding its commercial footprint in Quezon City to capture resilient corporate demand amid tightening supply of tax-incentive-eligible office spaces in Metro Manila.
SM Offices, the commercial leasing arm of the developer, expects to complete the construction of North Tower 3 in the second half of 2026. The 22-story project will add approximately 31,000 square meters of premium office space to the SM North EDSA Complex, providing one of the few remaining large-scale options in the area accredited by the Philippine Economic Zone Authority (PEZA).
The expansion comes as Metro Manila faces shrinking pipeline of new PEZA-registered developments, a category heavily sought after by multinational firms and business process outsourcing providers for fiscal and non-fiscal benefits.
According to recent property market data, supply constraints persist in the metropolitan area even as corporate occupiers continue to scout for modern workspaces that offer access to tax perks, integrated transport links, and sustainable building designs.
Corporate tenants are increasingly prioritizing operational resilience and structural efficiency rather than just floor space, according to Alexis Ortiga, Vice President and Head of SM Offices.
Ortiga noted that businesses are looking for environments that enhance employee accessibility and overall performance, positioning the upcoming tower within a highly connected estate to address those shifting demands.
Located within the SM North EDSA master-planned development, North Tower 3 will feature a direct connection to the upcoming North Triangle Unified Grand Central Station.
he mass transit terminal will link four major commuter lines, including Light Rail Transit Line 1, Metro Rail Transit Line 3, Metro Rail Transit Line 7, and the highly anticipated Metro Manila Subway.
The property also benefits from its immediate proximity to the operational North EDSA Busway Concourse and the EDSA elevated pedestrian walkway.
To appeal to modern corporate mandates, the property incorporates energy-efficient systems, optimized natural daylighting, water-conservation fixtures, and sustainable construction materials meant to align with global sustainability benchmarks.
Furthermore, SM Offices is collaborating with local authorities to promote additional financial advantages through the Quezon City Economic Development Incentives Code. The partnership offers qualifying companies distinct local fiscal perks for business relocation, operational expansion, and long-term capital investments within the city.
Tenants will also have immediate access to the retail, hospitality, and residential properties inside the integrated complex, including the flagship SM North EDSA mall, Park Inn by Radisson North EDSA, and the Grass Residences. (James A. Loyola)

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SM Prime Holdings Inc. SM Offices Alexis Ortiga
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