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Developer Takes the Lead in PH Office Property Market

by: Sarah Joson

Monday, February 10, 2014 | Outsourcing News |

Andrew L. Tan’s Megaworld Corp. is expected to complete six new business process outsourcing (BPO) towers. This will fortify the property developer’s position in the office space segment.

Executives of the company explained that the six new towers are anticipated to yield 112,000 square meters (sqm) of office space and are set to accommodate the growing demand from existing clients who want to expand, as well as new locators.
 
According to the first vice-president for business leasing and development of Megaworld, Jericho Go, Megaworld aims to become the leading office space developer in the country. He said they are considering office inventory expansions to augment their revenues from rental payments.

Two of the office towers are in Uptown Bonifacio, two towers are in Mactan Newtown, and the last two in Iloilo Business Park.
Once the 112,000 sqm of office BPO space are included to Megaworld’s portfolio by the end of this year, they will end up with a total of 712,000 sqm.
 
Megaworld has 10 office towers in Eastwood City, one in Newport City - Pasay, 14 in McKinley Hill - Taguig, and another one in Mactan Newtown - Cebu.

Eighty-six percent of the developer’s 126 clients are in the BPO industry. Some of which are Accenture, HP, Wells Fargo, IBM, United Health Group, Thomson Reuters, Dell, WNS, and Samsung.

Go said they are fully supporting the BPO sector’s plans for growth and are seeking to help further by encouraging more companies to operate in the Philippines.
 

Source:
http://www.philstar.com/

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