Megaworld's mixed-use commercial and residential townships developed in Bonifacio Global City … More
Provided by Megaworld
Megaworld – Billionaire's property department Andrew TanPesos ($523 million) will be spent over the next five years to increase its office portfolio by 25% to 2,030 square meters.
The investment also includes upgrades and renovations to existing Megaworld offices nationwide, the builder said in a statement Monday. Megaworld currently has 1.6 million square meters of office space, located in 900,000 square meters of Bonifacio Global City, an upscale commercial district built on a former military camp outside Makati Financial Hub.
Outside the Metro Manila Metropolitan, developers are setting up new offices, as the government bans online game operators in the country, and office vacancies in the country's capital rose. According to Collier Philippines, the senior team of Philippine Philippines expects the city's office vacancy rate to climb to 22% this year, the highest in 18 years.
Megaworld said it will open 50,000 square meters of office inventory in central Philippines this year. The builder said earlier this year that the company added 60,000 square meters of rental offices outside Metro Manila due to growing demand from business process outsourcing (BPO) companies.
“We are optimistic about the office sector in the Philippines, especially as more and more international companies continue to come in, either establishing their own businesses here or expanding their businesses,” said Tyne, the chief executive of the alliance, which is commensurate with the heirs of the billionaire. “We are seeing the demand for office space is not just a peak in BPO companies, but even traditional tenants.”
In addition to Megaworld, the old tan is also interested in Emperador, the world's largest brandy maker. McDonald's Filipino franchisee and casino resort. According to 73-year-old Tan's net worth is about $1.5 billion. Forbes' Real-time data.
