SM DEVELOPMENT Corp. (SMDC) is developing a new residential-office project with a “live at work” concept, which it hopes will attract young entrepreneurs.
SMDC’s ICE Tower Residential Offices (RESO) will rise on a 3,859-square meter (sq.m.) property located at the Mall of Asia (MOA) complex, Pasay City. The 14-storey building will have 844 units, composed of studios, one-bedroom, and two-bedroom spaces.
Now on its pre-selling phase, ICE Tower RESO is expected to be completed by end-2024.
“What differentiates this development is you actually have those amenities that kind of compliment, or as a business owner, [have] things that you actually need to run your business,” SMDC Senior Assistant Vice-President for Marketing Chad D. Africa said during the project’s online launch last week.
Units at ICE Tower RESO may be used as a residential space or as an office and owners are allowed to combine units to suit their needs.
“When you put all these people into one environment, they tend to synchronize and synergize, and create something that’s much larger than just a small idea that’s struggling to get off the ground,” Danny Juric, director of Australia-based Plus Architecture, said.
ICE Tower RESO will feature a business hub with work spaces, meeting rooms, boardrooms and a function hall. It will also have a fiber-optic connection and a 100% backup power system.
It will also have a fitness hub, a swimming pool, and a sky lounge on the roof deck with a view of Manila Bay and the MOA complex.
Since the project is designed to be both a residential and office space, it is seen as a sustainable property investment.
“The innovative concept itself has not been implemented in that area, so you actually widen your market base. It gives a lot of confidence to investors that not only will you be attracting the residential market, but also the office market,” said Roy Amado Golez, director of research and consultancy at Leechiu Property Consultants.
SMDC said all of its future projects will be suitable for a work-from-home environment. The company will have to see if investors would want more residential-office development.
“What we’re trying to do is we’re trying to understand if this is something that will really connect with the market and if this is something that people will really want,” Mr. Africa said. — Keren Concepcion G. Valmonte