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SM seeks fiscal perks for IT building
SM Investments Corp., the holding company of mall tycoon Henry Sy, is seeking government incentives for its 94,000-square meter e-commerce building in Manila which it expects to complete by July 2007. The P1.5-billion OneE-comCenter on Wednesday broke ground at the 60-hectare SM Central Business Park in Manila, SM Investments said in a disclosure. Executive Vice-President Josefino Lucas said the company had asked for Philippine Economic Zone Authority incentives for the building, which has a total leasable area of 67,900 square meters. Seven floors will be allotted for office space, two-and-a-half floors for parking, and the ground floor for commercial uses. "Companies that will locate at OneE-comCenter will be entitled to investment perks such as a four or six-year income tax holiday and duty-free importation of equipment and raw materials. OneE-comCenter will provide offices and workspaces with technologically advanced facilities necessary for ecommerce businesses," Mr. Lucas said. "It would not be just a call center facility, but a multipurpose building able to accommodate a mix of office uses owing to its unique design and large floor area. We expect to get a good share of the premium office market because of the building’s prime location which is within the new SM Central Business Park at the Bay area. By tapping the grade-A market, we hope to generate a fairly steady stream of rental income for SM Investments in the future," he added. The 10-storey courtyard-oriented e-commerce building will have a typical floor plate of 8,750 square meters with four service cores. The OneE-comCenter will provide offices and workspaces with leading edge facilities and amenities necessary for e-commerce businesses such as business process outsourcing, call centers and other service companies. It will also accommodate financial services, consulting services, and even tourism-related offices.
