SM iCity 3 declared a PEZA Special Economic Zone

The SM Central Business Park 1-A at the Mall of Asia Complex in Pasay City has been declared a Philippine Economic Zone Authority (PEZA). The area includes e-commerce buildings Three and Four E- Com which mostly houses information technology and Business Process Outsourcing companies.

“This declaration is an achievement and a step closer to our goal of providing support to our growing IT-BPM industry. The outpour of these businesses should be sustained with the proper infrastructure to further leverage the economic activity that they bring to the region,” said Senior Vice President of SMPHI – CPG Dave Rafael.

The 50,077 square meter lot inside the Mall of Asia township became a PEZA zone under Proclamation No. 1203 pursuant to Republic Act No. 7916 or the “Special Economic Zone Act of 1995 as amended by Republic Act No. 8748.

The act grants certain privileges like special tax incentives and holidays to investors and business owners operat- ing inside the zone.

Rafael further said that the provision of more office infrastructure can also contribute to the growth momentum of the economy by encouraging creation of more job opportunities in the region.

The Information Technology Park shall be known as the SM iCity 3.

The IT Park is owned and managed by SM Prime Holdings Inc., the property arm of the SM Group of Companies. In addition to developing office spaces, SM Prime also has major business interests in banking, retail, and leisure- oriented projects.