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SM Prime Holdings

SM Prime Holdings to build BPO Towers

SM Prime Holdings is estimated to build three BPO towers outside Makati. They are SM Clark BPO Towers, SM Sta. Rosa BPO and SM Iloilo Tower. While another BPO tower is proposed to be built in the old Harrison Plaza as SM Prime Holdings is working on acquiring the historical shopping center.

A total of P2.42 billion has been allocated for the construction of the three towers. SM Clark BPO Towers and SM Sta. Rosa BPO is slated to be completed by the fourth quarter of this year. SM Iloilo Tower is scheduled to be finished by the first half of 2017.

Each tower will be constructed adjacent to their own respective malls. SM Clark BPO Tower will be next to SM City Clark. SM Sta. Rosa BPO will rise near SM City Sta. Rosa and SM Iloilo Tower will be beside SM City Iloilo.

SM Clark BPO tower will have a total lot size of 6,090 square meters (sq m) with a total gross floor (GFA) area of 67,296 sq m. Meanwhile, SM Sta. Rosa BPO will have a lot size of 12,092 sq m and a GFA of 30,000 sq m. SM Iloilo Tower will cover 5,480 sq m of land and a GFA of 45,000 sq m.

SM Prime Holdings to acquire Harrison Plaza

SM Prime Holdings is also eyeing to buy-out the old Harrison Plaza to convert into a finance complex which would include another BPO and residential towers.

In an interview with Philippine Daily Inquirer, Jeffrey Lim, SMPH Inc. chief finance officer, says that they were “in talks with the city government to redevelop the 40-year-old SM Harrison Plaza complex — which stands on a strategic seven-hectare property owned by the city government — into a mixed-use development.”

Lim further said that the assigned budget for the Harrison Plaza project will be around P39.44 billion. Though there is no word as to when Harrison Plaza will be acquired but SM Prime Holdings is hopeful to get it soon.

SM Prime Holdings is setting aside a total of P56 billion capital spending for all of its projects this year and a further P61.4 billion for the next.

 


Sources:

http://manila.coconuts.co/2016/06/20/sm-prime-holdings-eyes-redevelopment-harrison-plaza-complex

http://business.inquirer.net/211212/sm-eyes-harrison-plaza-redevelopment

http://business.inquirer.net/210463/sm-prime-to-build-3-bpo-towers-outside-manila

http://www.philstar.com/business/2016/05/21/1585218/sm-prime-allots-p56-b-capex

 

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