23 July 2015, Makati City – As Makati CBD has very low available office supply for the BPO market, developers have shifted their office projects in other parts of Metro Manila. Bay Area is fast becoming an office hub due to the fact that the area in Pasay City has ample supply of land for development; plus most of all the leading developers are starting to make their presence felt not only in the residential market but also in the office market.
For the burgeoning office sector in the Bay Area, Federal Land plays a big role by having an office development within its Master-Planned community – Metro Park. iMET BPO is the first of a series of office buildings in Metro Park that will take advantage of various retail and residential developments in the area.
Federal Land is taking advantage of an already established township that will support its upcoming office buildings. It already has a retail strip called Blue Bay Walk and several condominiums that cater to various markets. Proximate to transport hubs like buses, LRT/MRT, shuttle and jeepneys, the complex is ideal location for all BPO expansion and even for new locators.
Jie Espinosa, Director for Office Services of Colliers International, the sole leasing agent for iMET BPO, foresees a continued demand for office spaces in the Bay Area. The demand will be driven by several factors including the market conditions of other CBDs. “By 2016 to early 2017, BPOs will gravitate towards the Bay Area due to the lack of new office supply in Ortigas and Makati and soaring lease rates in Fort Bonifacio,” Espinosa noted. “Cost and location are important for BPO companies. iMET BPO ensures both with competitive rates and proximity to various transport options and public amenities.”
More importantly, iMET BPO is within a PEZA IT Park assuring BPO locators that they can avail of the fiscal incentives available to them through the government entity right from the onset. It is targeted for completion by Q3 2016 and has a total of ten (10) office floors with a 2,029.08sqm floor plate.
For office leasing information, interested parties may contact Colliers International at 858-9010 or through http://www.colliers.com/p-phl22000425