Megaworld Corp. has reported booking around 415,000 square meters of office leases in its townships, with Information Technology (IT) and Business Process Outsourcing (BPO) companies taking up 40% of the demand through new leases since the start of the pandemic last 2020.
During the first half of 2021, the real-estate company has booked several new leases and renewals at its buildings in Mactan Newtown in Cebu, Eastwood City, McKinley Hill, Uptown Bonifacio, Southwoods City in Biñan, Laguna, and Davao Park District.
Megaworld chief strategy officer Kevin Tan said that these renewals mean that the “BPO companies opted to stay and held on to their spaces. This also clearly indicates the strength and resilience of the office market within our pioneering townships.”
Occupancy at Megaworld’s premier offices remains at 90%, with its Iloilo Business Park center reaching 100%.