Megaworld’s office leasing up 12% in Q3
Real-estate company Megaworld Corp. had surpassed its office lease target in Q3 with 214,000 square meters (sq.m.) of office take-ups, with Information Technology and Business Process Management (IT-BPM) leasing 79%.
This figure is 12% higher than the 191,000 sq.m. recorded by the company in the same period last year.
About 36% of the leases were made up of new deals in Uptown Bonifacio, McKinley Hill, Southwoods City, and Davao Park District.
In addition, 64% of leases from the last nine months were renewals of Business Process Outsourcing (BPO) companies in Eastwood City, Uptown Bonifacio, McKinley West, McKinley Hill, and Iloilo Business Park.
Megaworld Premier Offices first VP and MREIT Fund Managers president Roland B. Tiongson said that the company is “optimistic” in achieving better full-year performance at the end of 2021.
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