SM Prime Holdings, Inc. (stock symbol: SMPH), through its office leasing division called SM Offices, is building a new office tower in Quezon City that will give businesses about 31,000 square meters of workspace.
According to a disclosure filed with the Securities and Exchange Commission on June 19, 2026, the new building is called North Tower 3 and will be located at the SM North EDSA Complex. The project is expected to be finished in the second half of 2026.
What Makes This Building Special?
Think of PEZA like a special club for office buildings. PEZA stands for Philippine Economic Zone Authority, and when a building is “PEZA-accredited,” it means companies that rent space there can get special benefits and tax breaks from the government. This helps businesses save money.
North Tower 3 is one of the few large PEZA-approved office buildings being built in Quezon City right now. According to the company, there aren’t many new PEZA office buildings being constructed in Metro Manila even though many companies want them.
Why Companies Want This Type of Office Space
Alexis Ortiga, the Vice President and Head of SM Offices, explained that businesses today care about more than just having office space. They want offices that:
- Are easy for employees to reach
- Help the company work more efficiently
- Are located in areas with good transportation
- Can support the company’s growth for many years
How Tall is the Building and What’s Nearby?
North Tower 3 will be a 22-story building. One of its biggest advantages is its location near many transportation options. The building will be directly connected to the upcoming North Triangle Unified Grand Central Station, which is a huge transportation hub that will connect several train lines:
- LRT Line 1
- MRT Line 3
- MRT Line 7
- Metro Manila Subway
The office tower is also near the North EDSA Busway and an elevated walkway on EDSA, making it easier for employees to get to work.
Environment-Friendly Features
The building is being designed with features that help save energy and protect the environment, including:
- Energy-efficient technology
- Better use of natural sunlight
- Water-saving fixtures
- Sustainable building materials
These features help companies save money on operating costs while being more environmentally responsible.
Extra Benefits for Businesses
Besides the PEZA benefits, SM Offices is also working with the Quezon City government to offer additional incentives through the Quezon City Economic Development Incentives Code. This program gives businesses extra financial benefits if they expand, relocate, or make long-term investments in the city.
Companies renting space in North Tower 3 will also be close to shopping centers, hotels, and residential buildings like SM North EDSA mall, Park Inn by Radisson North EDSA hotel, and Grass Residences apartments. This means employees can easily access restaurants, shops, and other services nearby.
About SM Prime Holdings, Inc.
SM Prime is one of the largest mall and property developers in the Philippines. The company owns and operates shopping malls, office buildings, hotels, and residential properties across the country. As of the filing, SM Prime has 28,651,061,094 common shares outstanding.
The disclosure was signed by John Nai Peng Ong, Chief Finance Officer of SM Prime Holdings, Inc.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
