Megaworld Corp. now enjoys a 70 percent share in the office sector in Iloilo City.
Citing an internal study done in April, Megaworld said it now has 100,000 square meters (sq.m.) of leasable office space in the city, out of its nine office towers located inside the 72-hectare Iloilo Business Park.
“These office towers include One Techno Place, Two Techno Place, Three Techno Place, One Global Center, Two Global Center, Festive Walk 1B, Richmonde Tower, One Fintech Place, and Two Fintech Place,” the company said.
“To date, all office towers are 100 percent occupied by mostly business process outsourcing (BPO) companies, which Megaworld helped bring to Iloilo for the first time,” it added.
Roland Tiongson, Megaworld Premier Offices first vice president, said the company received inquiries for available office spaces in Iloilo Business Park in the middle of the strict lockdowns last year.
“We have quite a number of our existing clients in Metro Manila have had strong interests about expanding in Iloilo. And they were very particular about being inside Iloilo Business Park,” Tiongson said.
Currently, offices at Iloilo Business Park host BPO companies that cater to healthcare, insurance and finance, security, and customer service.
Last year alone, Megaworld closed lease deals with seven companies that are either first-time locators or existing locators looking for expansion spaces in Iloilo, equivalent to almost 28,000 sq.m. of office spaces.
“Iloilo Business Park covered around 20 percent of our total office lease transactions in 2020. This is now the brightest spot in our office leasing business, and we are very happy that our Iloilo township has been an attractive location to many multinational companies,” said Tiongson.
The company is currently constructing its 10th office development in Iloilo Business Park, the 12-storey Enterprise One, which will be the tallest office tower in the township once completed by 2023.
Megaworld ended 2020 with rental revenues reaching P10.4-billion, and a total leasable office inventory of 1.4 million square meters, excluding office spaces for sale.
