According to Megaworld, they will be spending Php 20 billion to add 350,000 sqm of office space and generate around 100,000 jobs in Fort Bonifacio in the next three years.
Megaworld Corporation is planning to expand their office leasing portfolio in Fort Bonifacio by building 12 office towers until 2018. Currently at 300,000 sqm, their office spaces will have reached around 650,000 sqm in the next three years. To construct these towers, the property giant is spending Php 20 billion, which is part of the brand's Php 285.8 billion capital expenditure announced early this year.
“We remain upbeat in maintaining our leadership as the biggest developer and lessor of office spaces in the country,” Megaworld senior vice president Jericho Go said.
In the 15.4-hectare Uptown Bonifacio, there are four office buildings already in the works: Uptown Towers 1 and 2, each of which are 15 storeys tall and measure 30,000 sqm; Tower 3, which is 20 levels high and measures 40,000 sqm; and the 50,000 sqm, 25-storey Alliance Global Tower. According to Go, Towers 1 and 2 will be delivered within the year, while Tower 3 will see completion early next year.
“We envision Uptown Bonifacio to rise as a bustling CBD of Fort Bonifacio. At present, several multinational companies have already signed up to set up their operations here. Uptown Towers 1, 2 and 3 are now 90% leased out even before we have completed the delivery of the said towers. These office towers are all LEED-registered,” Go noted.
Go also mentioned that 70-80% of the tenants of these office buildings are business process outsourcing (BPO) companies, while the rest are composed of Fortune 500 companies coming from various industries, such as finance, technology/internet, and insurance.
The remaining six – One West Campus, Two West Campus, Three West Campus, Five West Campus, Six West Campus and Eight West Campus –will each be five storeys high and offer 10,000 square meters of office space. These towers will be constructed in the 34.5-hectare McKinley West.
Within the coming years, Megaworld will be building two more towers in Fort Bonifacio to add another 140,000 sqm in the company’s office leasing inventory.
(Image from the Megaworld Corporationc official website)