Professional Documents
Culture Documents
Monitor
August 2015
Office/O&O
Avida Land Corporation, a subsidiary of Ayala Land Inc (ALI), is set to develop its second
office project in Bonifacio Global City (BGC) Capital House. The soon-to-rise 26-storey
office building targets small and medium-size enterprise companies looking for office
space in BGC. The development will have 222 new office units with sizes ranging from 62
to 159 sqm. Capital House is scheduled for completion by December 2017, with units to
be turned over by 2Q18.
Megaworld Corporation has earmarked PHP 20 billion for the construction of 12 new
office buildings in Uptown Bonifacio and McKinley West. Four office towers are on the rise
in Uptown Bonifacio: the Uptown Towers 1, 2 and 3, which are reportedly 90% leased,
and the Alliance Global Tower. Six campus-type office towers are being built in McKinley
West. The completion of the office developments is expected to raise available total office
supply by at least 100,000 sqm in Uptown Bonifacio and by 60,000 sqm in McKinley
West.
US-based Open Access BPO is launching its second Philippine office in the Filandia IT
Center in Davao City this August 2015. The expansion reflects the goal of the company to
open offices in cities with a highly educated workforce, and is very accessible. Moreover,
another reason for the planned expansion is the lower business costs in Davao City,
estimated at 20-30% lower than in Metro Manila. The new office will add 180 employees,
who will provide voice and non-voice call centre services for businesses.
ALI subsidiary, Cebu Property Ventures and Development Corporation is planning the
expansion of Cebu IT Park in Cebu City. The proposed expansion includes a two-hectare
superblock worth PHP 8 billion that will include two new offshoring and outsourcing
office towers supported by the Ayala Group. Other developments to be included in the
expansion are an Ayala Mall and a Seda Hotel.
Residential
ALI recently launched West Gallery
Place,
a
49-storey
luxury
condominium development set to
rise in BGC. The development is
reported to offer 420 units
comprising 1-BR, 2-BR, 3-BR and
4-level villa units ranging from 52 to
710 sqm in size at an estimated
average selling price of PHP
234,000 per sqm. Meanwhile, its
832 sqm penthouse unit, called
Skyrise 49, was reportedly sold at
around PHP 234 million. Units on
the lower floors are scheduled for
turnover in 3Q21, while units from
the 38th to 49th floors and fourlevel villas are scheduled for 1Q22.
Megaworld
Corporation
has
announced its newest residential
project located along Senator Gil
Puyat Avenue in Makati City called
San Antonio Residence. It is a 40storey tower reportedly to offer 848
units ranging from 25 to 93 sqm
and set to complete by 2020.
5.2%
6.1%
0.8%
45.26
2.1%
2.3%
9,906
1,636
6.4%
92.3M
2,229,139
8.2%
Sources:
a National Statistical Coordination Board (NSCB)
b Bangko Sentral ng Pilipinas (BSP)
c National Statistics Office (NSO)
d Department of Tourism (DOT)
Retail
Hotel/Leisure
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Philippines
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