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Megaworld spending P20 B for 12 new office towers

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Megaworld Corp., a property developer owned by tycoon Andrew Tan, is pouring in P20 billion to construct 12 new office buildings in three of its four townships in Fort Bonifacio.

In a press briefing yesterday, Megaworld senior vice president Jericho Go said the new projects would bring its total office space inventory in Fort Bonifacio to more than twice its current 300,000 square meters by 2018.

Four office towers are currently being built in Uptown Bonifacio, the company’s 15.4-hectare integrated urban township in the northern part of Fort Bonifacio near Kalayaan Avenue.

These are the 15-storey Uptown tower 1, with a size of 30,000 sqm; the 15-storey Uptown tower 2 (30,000 sqm), the 20-storey Uptown tower 3 (40,000 sqm) and the 25-storey Alliance Global Tower.

Alliance Global Tower will serve as the corporate headquarters of the companies under Alliance Global Group Inc., the holding firm of Tan.

Uptown towers 1 and 2 will be finished and delivered this year while tower 3 is scheduled for next year, Go said.

“Aside from the four towers, the company is also building six more campus-type office towers in its new township, the 34.5-hectare McKinley West – One West Campus, Two West Campus, Three West Campus, Five West Campus, Six West Campus and Eight West Campus.

Each tower is five-storey high with 10,000 sqm of leasable office spaces, Go said.

 “There is a remarkable demand for sustainable campus-type office buildings especially after we built 8 Campus Place in McKinley Hill, the first LEED Gold-certified BPO office building in the country,” Go said.

“We look forward to our LEED certification for these new office buildings in McKinley West as well,” he added.

LEED stands for Leadership in Energy and Environmental Design. Developed by the US Green Building Council, it is a set of rating systems for the design, construction, operation and maintenance of green buildings and homes.

Go said within three years, two more office towers are in the pipeline which will also rise in Fort Bonifacio.

These new office towers will add around 140,000 square meters to the company’s office space inventory.

 “We envision Uptown Bonifacio to rise as a bustling central business district of Fort Bonifacio. At present, several multinational companies have already signed up to set up their operations here.

Uptown Towers 1, 2 and 3 are now 90 percent leased out even before we have completed the delivery of the said towers. These office towers are all LEED-registered,” he said.

Go said that among those who have signed for lease are financial institutions, insurance and IT firms which are all Fortune 500 companies.

Megaworld now has 19 office towers in McKinley Hill covering around 300,000 sqm of office space inventory.

The property developer currently has 712,000 sqm of office space inventory, mostly leased to IT-BPO companies. It has over 130 companies in its portfolio of office tenant partners.