Megaworld set to complete five office towers this year


Philippine-listed real estate developer Megaworld is set to complete five office towers this year, giving the market a combined inventory of about 207,000 square meters of new office space. These office towers included the Southwoods BPO Tower 1 in Southwoods City, a building intended to address the office space need of outsourcing companies in the capital. The other office towers that will be finished this year are Eastwood Global Plaza in Eastwood City, Two Techno Place in Iloilo Business Park, 10 West Campus in McKinley West, and the World Commerce Place in Uptown Bonifacio. Earlier, real-estate services firm Leechiu Property Consultants (LPC) said it expects the demand for office space in Metro Manila alone to grow by about 21% this year, mainly due to the sustained demand from the business-process management (BPM) and online gaming segments. It projected total demand rising to 937,000 square meters by the end of the year.

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