April 23, 2013

SM Land to put up P1-B office bldg in QC

SM Land Inc., the commercial property development arm of SM Investments Corp. (SMIC), has firmed up its decision to put up the P1-B, 15-story SM Cyber West Avenue after securing a key tenant. The project is targeted for completion by the fourth quarter of 2013 In a statement, SM Land said it signed a lease contract with Emerson Electric (Asia) Ltd.–ROHQ, a unit of US-based Fortune 500 company Emerson. Under the agreement, Emerson will lease more than 12,000 sqm of the 22,700-sqm SM Cyber West Avenue.

“The lease contract facilitates Emerson’s expansion from Mandaluyong City to SM Cyber West Avenue,” SM Land said.

The Manila office of Emerson provides support for several key global and regional functions for the parent firm like accounting, customer support, finance, information technology, human resources, marketing and supply chain management.

Emerson is a diversified global manufacturing and technology firm with $24.4 billion in global revenues last year.