JPMorgan Chase Bank, a global banking and financial services provider, is investing in a new 25-storey building that will house its Philippine Global Service Center. Philippines-listed developer Megaworld informed the Philippine Stock Exchange that it is constructing the 25-storey, build-to-suit office building for JPMorgan’s business process outsourcing operations. It will be the country’s biggest single office lease transaction to date, in terms of total space leased to a single company and transaction value, according to Megaworld senior vice president Jericho Go. The deal will allow JPMorgan to consolidate its presence to one location, enabling it to bring its Manila-based employees together to facilitate increased collaboration, according to the bank’s Philippine Global Service Center CEO Raoul Teh. Featuring highly efficient office floors and innovative technology in building design, the facility is designed by UK-based award-winning architectural firm Broadway Malyan. To be completed in 2021, the iconic tower will be ready for full operations by 2022.
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