Office and condominium builder Megaworld Corp. said it accelerated the construction of six campus”type office towers in the 34.5″hectare McKinley West, Fort Bonifacio on increased demand from the business process outsourcing industry.
The planned six campus-type office towers will have 60,000 square meters of office spaces, and will be part of the 350,000″sq. m. office expansion in the entire Fort Bonifacio in the next three years.
“We are now experiencing an overwhelming demand for office spaces in our various townships and a big chunk of the demand pie comes from Fort Bonifacio. In McKinley West, the demand is focused on campus”type buildings which have higher efficiency floor plates, easy access to office floors via internal staircases and branding rights for whole building occupiers,” Megaworld senior vice president Jericho Go said.
The six office towers could generate around 20,000 jobs once completed. It will be highlighted with green features to be registered under the Leadership in Energy and Environment Design of the US Green Building Council.
“Megaworld continues to attract more locators to set up or expand their businesses in the Philippines, especially after we built 8 Campus Place in McKinley Hill, which is the first LEED gold”certified BPO office building in the country. We look forward to our LEED certification for the new office towers in McKinley West as well,” Go said.
The McKinley West was recently declared a “special economic zone” for information technology under the supervision of the Philippine Economic Zone Authority.
As a special economic zone, business owners and investors operating inside the township will obtain certain privileges from the national government, like income tax holidays, duty-free importation of capital equipment and other non”fiscal incentives. Developers, meanwhile, pay real property taxes on the land.
Go said IT and BPO companies can now avail of the incentives enjoyed by a special economic zone when they lease an office space from Peza”accredited buildings in McKinley West.
Megaworld is the largest developer and lessor of office spaces in the country with over 700,000 square meters of inventory today. Around 300,000 sq. m. of the inventory are in Fort Bonifacio, especially in McKinley Hill.
The world’s top IT and BPO companies are among Megaworld’s biggest office clients, which include Accenture, HP, Wells Fargo, United Health Group, IBM and Thomson Reuters.
The property firm earlier announced it was allocating P20 billion to expand its office portfolio in Fort Bonifacio until 2018.
The company aims to build one million square meters of leasable office space before 2018.