Megaworld to double Iloilo space inventory
ILOILO CITY—Megaworld Corp., the country’s largest office developer and lessor, is doubling office space inventory in the Iloilo Business Park here to 100,000 square meters by 2020 on the back of strong demand.
Megaworld expects to provide 100,000 square meters of office spaces to serve around 40,000 workers, mostly in the business process outsourcing sector, from the current 45,000 square meters of office inventory in four office towers.
The four office towers are One Global, Two Global, One Techno Place, Three Techno Place and Richmonde Tower, which has already been leased out.
“During the last three years, we have experienced a spike in the demand for office spaces in Iloilo Business Park. Thus, we expedited the construction of our first four towers and we have decided to build more to meet the demand,” said Megaworld senior vice president Jericho Go.
“Here in Iloilo Business Park, we are aggressively expanding our office space inventory as we experience a remarkable spike in the demand for office spaces inside the townships in the last three years,” he said.
The Iloilo Business Park currently hosts around 15,000 office workers from five BPO companies based in the 72-hectare township in Mandurriao, which has been positioned to be Iloilo City’s central business district.
These companies include StarTek, Transcom, Reed Elsevier, WNS and IQor. Of the seven BPO firms, two are set to set up office this year which the company did not disclose for confidentiality reasons.
“We continue to see a bright prospect in Iloilo’s BPO industry. Several companies, most of them are first-timers in Iloilo, want to come in and expand here,” Go said.
He said BPO companies were keen on expanding to Iloilo due to the highly skilled and trainability of work force and availability of infrastructure.
Megaworld will also open another two new office towers—Two Techno Place and Festive Walk Office Tower this year.
The Two Techno Place is a five-level office building with an estimated leasable area of around 10,000 square meters. The tower is expected generate around 3,000 jobs once completed.
Festive Walk Office Tower, meanwhile, is a four-level office building with around 12,000 square meters of leasable spaces. The tower upon completion will create around 4,000 jobs.
Megaworld last year mapped out the ‘Visayas BPO Triangle’ that focuses on expanding office developments in three townships in the Visayas, especially The Mactan Newtown in Cebu City.