Ideal space for new officesDate: October 20, 2015
With limited office space options in Metro Manila business districts resulting from strong demand in the past five years, more companies are now searching for locations with more affordable rates like Filinvest City in the South.
According to Don Ubaldo, business development head for Filinvest City, a number of new office developments are among the 14 projects currently under construction in this integrated mixed-use community.
He said that office occupiers like professionals, entrepreneurs in finance and trading are creating demand for Premium Grade A office towers – in addition to the usual BPOs that have been driving demand for the past decade. Thus, the 32-storey Parkway Corporate Center at the main gateway of Filinvest City was launched in 2015. It is a purely office condo investment for end-user enterprises and has been warmly received by the market.
The office project was established as an early opportunity for investors to benefit from the growth of Filinvest City where land prices have consistently increased since 2010. According to studies, the demand for new office spaces across congested Metro Manila is projected to remain consistently strong until 2020. This means that values in the South are bound to increase further.
Much of Filinvest City’s growth in the office and other segments is the result of its distinctive status as a convergence hub. It has five major access points from Metro Manila and the rest of Calabarzon where major industrial centers are located. These include the South Luzon Expressway, the Skyway, Alabang-Zapote Road and Daang Hari.
“It is a melting pot for professionals, entrepreneurs and workers coming from the residential communities of Southern Metro Manila and Calabarzon,” said Ubaldo.
Those professionals and executives with their own businesses are creating demand for Parkway Corporate Center that offers units averaging 36 sqm within a rapidly expanding self-contained community with residential, commercial and entertainment amenities.
Filinvest City’s stock of office spaces had been taken up in the last two years by enterprises headed by executives committed to residing in the South. Seeing the sustained demand for even larger and more premium work spaces, Parkway Corporate Center was designed as an iconic building with state-of-the-art facilities.
It will represent the next generation of office buildings in the South with 100 percent genset power, a fiber optic backbone and a top-end security system with RFID access.
Most small office buildings in the South were constructed over 10 years ago and have yet to upgrade both building management and security systems.
Source: Manila Bulletin