SM eyes BPO workers in acquiring dormitory chain

SM Prime Holdings, one of the country’s property giants, is making its foray into the specialized for-lease property segment that caters to business process outsourcing (BPO) workers. SM Prime is reportedly in advanced stage of discussion with Philippines Urban Living Solutions (PULS), owner of a growing chain of dormitory buildings under the “MyTown” brand. Most of the properties of PULS are located at walking distance from major central business districts in the Philippines. Sources said SM is testing the dormitory market in anticipation of demand for more affordable living space among BPO workers.