Property developer Megaworld Corp. is accelerating the development of the 16-hectare Uptown Bonifacio township in Bonifacio Global City as demand for office and residential condominiums in the prime commercial business district remains robust.
Megaworld senior vice president Kevin Tan said the company was developing its fifth office tower and five new residential buildings in Uptown Bonifacio. The company is also expanding its retail footprint within the property.
Megaworld earlier budgeted P65 billion to develop Uptown Bonifacio into a mixed-use township over the next 10 years. Tan said the property firm already developed 30 percent to 40 percent of the property.
“We still have a lot of land bank in this site. We have some plans to build more offices and we might launch more residential towers as we are still feeling out the market,” Tan said.
“But definitely, we want to expand our office projects here because there is huge demand for office space here in Fort Bonifacio. We might launch the sixth tower soon,” Tan said.
Demand for office space primarily comes from existing BPO firms and online gaming companies, Tan said.
Megaworld and subsidiary brands Global-Estate Resorts Inc. and Empire East Land Holdings Inc. recently moved to the group’s new headquarters in the 30-story Alliance Global Tower in Uptown Bonifacio.
Megaworld’s office floors boast of wide working spaces spanning across 2,100 square meters per floor. The office floors have a total of almost 100 meeting and conference rooms as well as training and testing rooms. Each floor features the ‘open office layout’, allowing corporate transparency among its employees.
The Alliance Global Tower, located along 36th Street corner 11th Avenue, is an LEED-certified office tower that features integrated façade mechanical design for highly-efficient energy consumption, water-efficient landscapes, bike racks and shower facilities and use of non-to-low toxic green cleaning products and pest control strategies.
“On our 28th year as a company, we have transferred to our brand-new corporate headquarters. This is a product of the more than two decades of hard work, dedication and excellence of the 5,000 plus employees of the Megaworld Group,” Megaworld chief operating officer Lourdes Gutierrez-Alfonso said.
The building won the ‘Best Office Development’ award at the 2017 Philippine Property Awards in May.