Krisha Alaiza C.

Soria BSA-IV A42
Mgt 36A June 14, 2016

Megaworld building more office towers in Davao
By: Doris Dumlao-Abadilla
June 1, 2016

TYCOON Andrew Tan-led Megaworld Corp. has unveiled plans to build two new office towers in
its 11-hectare Davao Park District in Lanang, Davao City.

In a press statement yesterday, Megaworld announced that it would build “One Republic Plaza”
and “Emperador House,” which together will provide additional 30,000 square meters of office
space. This will bring the total office inventory in Davao Park District to around 50,000 square
meters.

The two towers are in addition to the 15-storey Davao Finance Center now being built near the
township’s main entrance. This first tower, which will cost P1.2 billion, will open up 20,000
sqms of leasable space.

One Republic Plaza will be a 10-storey office tower while the Emperador House will be a
themed six-storey tower featuring a European-inspired architecture. Named after the ‘world’s
largest brandy company’ and Megaworld’s sister company, The Emperador House is envisioned
to be an ‘iconic landmark’ of Davao Park District along the township’s main avenue.

“This is just the start of our expansion of office offerings. Being one of the top BPO destinations
in the country, we see an upward tick in the demand for office spaces in Davao City in the next
three years. Megaworld is committed to respond to this demand so companies will not think
twice of locating here,” Megaworld senior vice president Jericho Go said in a press statement.
Megaworld is the country’s biggest lessor of office spaces today, with an inventory of around
800,000 square meters all over the country. The company also has the most number of
companies in its roster of existing clients for office spaces at 130, most of which are information
technology and business process outsourcing (IT-BPO) companies.

“We will certainly bring first-time, new locators to Davao City. That’s the same thing that we are
doing to other cities like Iloilo and Lapu-Lapu City in Cebu. There are so many skilled talents for
the BPO sector here, and we are sure about Davao City being a ‘hot’ pick for location,” Go
added. By 2020, total direct and indirect jobs that will be generated in the township alone are
estimated to reach 100,000.

Aside from the expansion of its office portfolio, Megaworld is also building a retail row and
shophouses around the township. A plan to put up a hospital and a school is also underway.
Megaworld reported that three towers of the residential condominium cluster, One Lakeshore
Drive, are now almost sold out. Another two towers are scheduled for launch by Megaworld’s
subsidiary brand, Suntrust Properties Inc. within the year.

“Megaworld’s commitment to nation building and spreading the economic prosperity to the
provinces remains. In the next five years, we hope to see more and more people coming home
to the provinces because they find more opportunities here. This way, we also help decongest
Metro Manila,” said Go.

Basically. .