Megaworld Corporation, the country’s biggest developer and lessor of office spaces, is expanding its office inventory in the rising township of McKinley West in Fort Bonifacio with the construction of a high-rise building for about P2 billion.
From an initial 66,000 square meters of leasable office spaces to be offered by the six campus-type office towers along the township’s Le Grand Avenue, a new high-rise office tower is being built to offer an additional 32,000 square meters of leasable office spaces.
To be called 10 West Campus, the new tower will stand 17-storys high with 13 floors to be allocated for offices, three floors for podium parking, and a ground floor dedicated to retail and recruitment centers for business process outsourcing (BPO) tenants.
“We are upbeat about McKinley West because this township stands in a very premium location right beside Forbes Park and has a convenient, fast access to Makati CBD, C-5 Road, South Luzon Expressway and the Ninoy Aquino International Airport,” said Megaworld senior vice president Jericho Go.
Megaworld originally planned to allocated P20 billion to increase its office space inventory in its various township developments in Fort Bonifacio to 650,000 square meters by 2018.
However, Go said that, with the expansion in McKinley West, Megaworld is increasing its capital spending for office towers in Fort Bonifacio by 15 percent to P23 billion as it expands its office inventory close to 700,000 square meters in this area.
He said 10 West Campus will be allocated about 60 to 70 percent of the additional P3 billion budget for office towers in Fort Bonifacio.
Megaworld’s six campus-type towers are already 70 percent pre-leased to mostly information technology (IT) and business process outsourcing (BPO) companies. All of these towers will be fully leased by second half of the year.
On the other hand, almost a quarter of 10 West Campus, are now pre-committed.
All office towers in McKinley West will be registered for Leadership in Energy and Environmental Design (LEED) of the US Green Building Council.