From its roots as a farming village, Alabang has been groomed into a booming commercial centre in the south after its swift development in the late ’90s.
High-end real estate projects in the area such as the Alabang Commercial Center and Filinvest City helped shape it into a business district.
Aside from being a prime residential area in Muntinlupa, Alabang has also been home to many business establishments, including commercial and industrial outlets.
Local and foreign companies have set up offices in the area. With its continuous development as a commercial center, Alabang is considered a top alternative for other crowded business districts in Metro Manila, increasing the demand for office and commercial spaces and prompting the development of business centers over the years.
Alabang isn’t only home to shopping centres and an upscale residential village; it also has a good number of office buildings and business centres in the south such as the Northgate Cyberzone, Madrigal Business Park, Insular Life Towers and PEZA-accredited buildings.
Class ‘A’ to Class ‘C’ offices and commercial spaces are available in several properties, such as the NOL Towers Alabang, YL Alabang Building, Vector One and Vector Two. Flexible workplace solutions, such as fully-serviced offices and seat rentals, are offered in various IT parks and business centres, making it an ideal location for call centres, IT firms and BPO companies.
Office market rates in Alabang
The office market in Alabang fall under the same trend with the rest of the business districts in the metropolis of Muntinlupa City. There’s been a marked slowdown in office take-up, particularly of premium and Grade ‘A’ office spaces because of limited new supply, some of which is still in the pipeline. Office rentals in Alabang are expecting to see the same decline.
The average rental rate for the second quarter of 2015 stood at P 602.4 per sqm/month, recording 0.2 percent growth, while the vacancy rate stood at 14.1 percent.
