SM Prime Holdings Inc. is set to boost its office leasing portfolio with the opening of SM City Cebu Towers in the final quarter of 2026.
Located on A. Soriano Avenue in the North Reclamation Area, the development will add 60,000 square meters of leasable space to Cebu City, one of the fastest-growing regional office markets outside Metro Manila. The project targets traditional corporations and business process outsourcing firms seeking alternatives to the higher costs and congestion of the capital.
“Cebu is a major economic hub because of its strong infrastructure, exceptional talent pool and complete business ecosystem,” Alexis Ortiga, vice president and head of SM Offices, said in a statement to the stock exchange Thursday.
Ortiga added that the project will support growing demand for high-quality, well-connected office spaces in the province.
Data from Leechiu Property Consultants showed that Cebu recorded 150,000 square meters of office take-up in 2025, accounting for 55 percent of total provincial demand. The figure is 33 percent higher year over year.
The expansion is part of the company’s strategy to roll out mixed-use developments that combine offices with residential, retail, education and leisure components. SM Prime said this approach improves operational efficiency for tenants and supports employee retention through integrated amenities.
SM City Cebu Towers is part of the redeveloped SM City Cebu North Wing complex, which integrates retail spaces and a campus of National University.
The location provides access to the South Road Properties, Mactan-Cebu International Airport, the port area and nearby government centers. Its proximity to National University allows office tenants to build recruitment pipelines and training partnerships with graduating students, reducing hiring costs and lead times.
