NEW property player Menarco Development Corp. (MDC) has recently topped off its first office development at the 32nd Street in Bonifacio Global City (BGC), Taguig—a towering evidence of its thrust to lead in elevating the quality of building and construction business in the country.
A namesake of the company itself, Menarco Tower is a soon-to-rise premium office address that is not only considered “green,” being a precertified Leadership in Energy and Environmental Design (LEED) Gold, but also the most “healthy,” as it is the first building in the Philippines to register for WELL Certification.
The former is the most widely used independent, environment-oriented building rating system internationally that certifies a structure’s eco-friendly features. On the other hand, the latter was established in 2013 by the International Well Building Institute as the only building certification in the world that puts people’s health and wellness at the center of decisions related to design, construction and technology of the building.
“It’s a very, very tall order to follow,” said Carmen Jimenez-Ong, managing director of MDC. “We wanted to create a new normal in the Philippines and give Filipinos what they truly deserve, which is the healthiest building in the Philippines.”
Because the two-year-old firm has a deep understanding of how the labors’ mind-set, attitude and performance are greatly affected by the work area they are into, it has decided to make its pioneering office development “totally worker-friendly.” This, in turn, is aimed at addressing the concerns of most employers—attrition and underperformance among employees.
“There is a saying that the worker leaves a company to join another company where the grass is greener. This is most likely so true when compensation and benefits are the factors they consider,” MDC Chairman Menardo R. Jimenez Sr noted. “But there is one another important reason for leaving. I am referring to the working environment, the amenities, the safety and the convenience of an office building that make work enjoyable and productive.”
Failure to provide all of these under one roof leads to human resources’ lack of dedication to their profession. Engaged manpower pool, according to Ong, perform better as they work consistently and passionately and, eventually, become loyal brand ambassadors for their respective companies.
“At the end of the day, engaged employees deliver more profit,” she said, while citing that this led them to prioritize all their concerns in building Menarco Tower.
To put people first, she shared their commitment to excellence as regards the tower’s integrity of design and materials.
“We invested in what is seen and what is unseen. We created a space where business owners and their employees don’t need to worry about anything other than doing their best work,” she explained. “We’re here to create a landmark tower that will age gracefully and, hopefully, will outlive you and me.”
Addressing workers’ health, wellness concerns
SINCE 90 percent of a person’s time is spent indoors, a building’s environment can have a tremendous impact on health and wellness.
About the same ratio of employees have admitted in a study that their attitude about their job is adversely affected by the quality of their workplace environment.
What’s more, 90 percent is the typical cost of staff benefits on a company’s overall operating expenditures, followed by 9 percent on real-estate operations and 1 percent for utilities.
“We, therefore, have to invest in them [people] not just in terms of technical training and equipment, but also through social health and well-being,” said Michael Hearn, operations manager of Arcadis, the construction cost consultants, LEED and WELL consultants on the project.
By designing Menarco Tower as a WELL building, he pointed out their goal of increasing and improving the physical health benefits of the work force while enhancing productivity being in their office housed here.
To help unlock human potential within Menarco building, seven concepts are considered for it to pass the WELL standard: air, water, nourishment, light, fitness, comfort and mind.
The developer seeks to promote clean air through reducing and minimizing the source of air pollutants and purification through special filters and equipment.
“A study by the World Green Building Council in 2015 showed that productivity improvements of 8 to 11 percent are not uncommon as results of better air quality. Just imagine the results of your business productivity in terms of revenue,” Hearn said.
Menarco will provide safe and clean water through the implementation of proper filtration techniques and regular testing in order for building occupants to receive clean and safe water at all levels. Strategies include the removal of contaminants through water filtration and treatment.
Because eating unhealthily is linked to a 66-percent increased risk of loss of productivity, MDC will be setting up an e-library within the tower so that the tenants will be able to access materials, like recipes, books and handouts, on how to eat properly and eat a balanced diet.
The building’s design is based on daylight modeling, promoting the most efficient use of natural light and views of the building. LED light fixtures that are LEED certified will, likewise, be installed in the tower.
“Using them, we intend to enhance productivity, increase alertness and improve occupant experience,” he said. “Research shows that focus at work increase by 50 percent for those who have window views. And lack of natural light is seen as the No. 1 workplace health hazard by 36 percent of health psychologists and psychiatrist.”
Menarco has a “Walk” score of 98 when the requirement is only 70. This indicates that it offers pedestrians more accessibility to and from the building. Furthermore, an area of nearly 250 square meter has been allocated for a wellness spot for fitness classes, such as yoga and pilates.
“Fitness promotes the integration of physical activity into everyday life by providing the opportunities and the support for an active lifestyle,” Hearn said. “Exercise has been linked with a 50-percent increase in productivity.”
To provide comfort at all times, MDC is developing solutions to control any distraction to the employees, like noise and temperature. Studies have shown that an employee’s performance at work drop by 66 percent when exposed to distracting noise. When they feel hot and cold, on the other hand, their productivity decreases by 4-percent and 6-percent, respectively.
In enhancing cognitive and emotional health among workers, Menarco will have a vertical art gallery. Also, it will have a 114-sq-m garden area at the eighth floor.
All these features are in synch to the developer’s goal of increasing and improving the physical health benefits of the work force while enhancing productivity being in their office housed here.
“We’re trying to reduce for the companies absenteeism. We’re trying to increase their presentability to clients to win more work. We’re trying to increase their revenue by cutting down on their costs—medical, compensation and the like,” he noted.
Robust business growth potential
COMING up with a WELL-certified tower does not only show how MDC is at the forefront of building a workplace than can help improve the quality of life for its occupants, but also a great potential for its business to grow.
Based on McKinsey and Co.’s 2012 research, wellness is projected to be the next trillion-dollar industry, as employers invest in healthy-living programs and as customers take more responsibility for optimizing their own health.
With this, Menarco Tower, which will offer a gross leasable area of 25,442 sq m at P1,100 each, is poised to generate P27.9 million in revenue a month, or P335.8 million annually.
The company is investing a little over P2 billion to finish the construction and development of the project by the first quarter of next year.
Out of the 32 storys of the building, MDC will lease out 22 upper floors to around 50 companies, such as multinationals, holding and law firms, as well as consulting and advertising companies, among others. The lower 10 floors will be dedicated for parking.
Menarco Tower is a boutique corporate office that already has garnered three Philippine Property Awards: 2016 Best Green Development Winner, 2016 Best Office Development (Highly Commended) and 2015 Best Office Architectural Design (Highly Commended).