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PROPERTY developer Megaworld Corp. will put up at least
500,000 square meters of office space within the next
five years to take advantage of the growing demand in
the business process outsourcing (BPO) sector.
“We are looking to complete about 200,000 to 250,000 square
meters of office space, almost 50 percent of our target,
in 2007 and 2008 alone,” said Megaworld first vice
president for business development and leasing division
Jericho Go. During these “banner years,” he predicted
that the demand will be at its peak.
The Eastwood City CyberPark in
Quezon
City, the country’s first information technology (IT)
park accredited by the Philippine Economic Zone
Authority, remains Megaworld’s foremost supplier of
office space. It is home to over 60 firms, half of which
belong to the BPO and IT-enabled services sector.
Currently, five high-tech office projects are rising at the
site. Offering about 20,000 square meters of office
space is
e-Commerce Plaza, slated for completion by yearend. The
second phase of a new business center, 1880 Eastwood
Avenue, will offer some 35,000 square meters of leasable
space. By the second quarter of 2008, 1800 Eastwood
Avenue, which hosts high-profile firms such as DELL
Philippines and IBM Business Services, shall commence.
Global
One Center, with a floor area of about 35,000 square
meters, will be finished by the second half of 2008.
TechnoPlaza 2, on the other hand, will add more than
38,000 square meters to the CyberPark’s inventory by the
second half of 2009. In addition, the International
Finance Center, with close to 24,000 square meters of
office space, will welcome tenants by the last quarter
of 2010.
Megaworld is also building up its BPO office inventory in two
strategic destinations in Metro Manila. At the McKinley
Hill CyberPark in
Fort
Bonifacio in Taguig City, the 11-story,
30,000-square-meter One World Square is set for
completion by the second quarter of this year.
Meanwhile, Newport Corporate Plaza One, the first office
project at
Newport City
in Pasay City, will be finished by the first quarter of
2008. The eight-story building has 20,000 square meters
of leasable BPO office space.
The developer’s Cityplace project is the largest development
in
Manila
in the last 25 years. It will also host a BPO building
to cater to companies in Binondo and the nearby areas.
Since 1996, Megaworld has built more than 325,000 square
meters of office space.
H.M. Reyes |
