Real estate firm expands office footprint in Laguna

A new office tower has opened in this fast-growing Calabarzon city, further expanding the commercial footprint of one of the country’s largest real estate developers outside Metro Manila.

Located within the SM City Sta. Rosa complex, the newly launched Core Tower Three adds over 27,000 square meters of leasable space to the South Luzon market. It is the third building in a planned three-tower development targeting business process outsourcing (BPO), technology, and professional services tenants seeking space in key regional locations.

The project is led by SM Prime Holdings’ commercial property arm, SM Offices, which now has more than 1 million sqm in total leasable space, over a fifth of which is located in regional centers.

“This reflects the growing demand for future-ready office spaces in regional growth centers like Sta. Rosa,” said Alexis Ortiga, Vice President and Head of SM Offices, in a disclosure to the Philippine Stock Exchange.

Ortiga noted increasing interest from firms looking for scalable sites outside Metro Manila that combine infrastructure, accessibility, and talent availability.

The building features flexible workspace layouts, high-speed telecommunications connectivity, and 100-percent backup power. It also benefits from integrated access to transport corridors such as the South Luzon Expressway (SLEX), Cavite-Laguna Expressway (CALAX), and Old National Highway.

Leasing activity is ongoing, with several companies already operating in the new tower. Early tenants have cited Sta. Rosa’s growing workforce pool and robust infrastructure as key considerations for expansion.

The developer estimates that tenant operations and building services in The Core Towers could generate over 6,000 jobs, supporting the city’s continued rise as a regional business and employment hub.

The project is part of a broader trend of decentralization, with real estate firms scaling their presence in high-growth provincial locations to meet evolving corporate requirements.