SM Offices, the commercial leasing arm of SM Prime Holdings Inc., is adding around 31,000 square meters of office space in Quezon City through the development of North Tower 3 at the SM North EDSA Complex.
The 31,000 sqm of fresh office space will be accredited by the Philippine Economic Zone Authority (PEZA), the company said in a disclosure on Friday.
The 22-story office tower is scheduled for completion in the second half of 2026, providing additional office inventory “at a time when the pipeline of new PEZA-accredited developments in Metro Manila remains limited,” it said.
SM Offices said the project was among the few large-scale PEZA-registered office developments in Quezon City and would cater to companies seeking tax incentives, transport connectivity and modern workplace features.
“Companies today are becoming more intentional about where they locate their operations. Aside from office space, they are looking for environments that help improve efficiency, accessibility and overall business resilience,” said Alexis Ortiga, vice president and head of SM Offices.
North Tower 3 will be directly linked to the upcoming North Triangle Unified Grand Central Station, which will connect the Light Rail Transit Line 1, Metro Rail Transit Lines 3 and 7 and the proposed Metro Manila Subway.
As a PEZA-accredited development, North Tower 3 will allow qualified locators to avail of fiscal and non-fiscal incentives.
SM Offices said it was also working with the Quezon City government to promote incentives available to businesses expanding or relocating within the city.
The tower forms part of the SM North EDSA Complex, which includes retail, hospitality and residential developments such as SM North EDSA, Park Inn by Radisson North EDSA and Grass Residences.
Shares of SM Prime, the parent firm of SM Offices, slipped P0.30, or 1.62 percent, to close at P18.22 each on Friday.
