In its July Philipiines Property Market Monitor research report, real estate firm JLL reported that Megaworld Corporation has launched its seventh building in its township development in Taguig City, McKinley West.
The 10 West Campus building is expected to have 17 floors and provide 32,000 sqm of leasable office space. Some 13 floors will be allotted for office space while the others will be used for parking and retail.
Currently 70 percent of the other six towers in Mckinley West have been pre-leased to IT and offshoring and outsourcing (O&O) companies while about 25 percent of 10 West Campus is pre-committed, according to JLL.
US-based O&O company VXI launched its seventh facility in the Philippines, and is expected to be fully operational by the first quarter of 2017. Located in Five E-Com Center in the Mall of Asia Complex in Pasay City, the new facility is expected to accommodate 1,500 employees in addition to the present total of 10,000 local workers employed by the company.
VXI currently employs 1,200 employees at the new facility and is planning to hire 300 more.
Online retail and travel customer service provider Motif recently opened its latest office in SM City Clark in Angeles City in the province of Pampanga, making it the 5th O&O company to operate in the mall.
Currently SM City Clark has around 10,000 seats distributed among four buildings devoted specifically to O&O. Moreover space for an additional of 4,000 seats is now under construction and expected to be completed by September.
Recognizing the advantages gained from lower operating costs and the large pool of talented employees in the Philippine O&O sector, US-based outsourcing firm Affinion Group Holdings Inc has opened its first contact centre in Taguig City, Metro Manila. Although expansion may not be in its primary agenda for the near future, the company currently has 210 employees in the Philippines.
Looking towards the residential sector, Artesan Prime Properties Inc is preparing to turn over the first one-unit-per-floor condominium in the Philippines by 2017. Located in San Juan City and designed by the renowned WTA Design Studio, Twelve Luxury Flats was conceptualised as a block of twelve flats with each flat occupying 300 sqm – the equivalent of an entire floor. At present, half the units have been sold.
Avida Land recently launched its first low-rise condominium named One Antonio. Located in San Antonio Village, Makati City, the development is a six-storey building with 198 units that devotes 60 percent of its total land area to common space, included in which are a fitness area, pool, playground, and a three-kilometre jogging track.
