MANILA, Philippines – The Megaworld Group of billionaire Andrew Tan beefed up its investments in Davao City, with the construction of the 10-storey One Republic Plaza and 6-storey Emperador House.
Megaworld said in a statement on Tuesday, May 31, that it is ramping up its office developments in the 11-hectare Davao Park District in Lanang, Davao City.
The property giant will build two more office towers, in addition to the P1.2-billion, 10-storey Davao Finance Center, which is currently being built near the township’s main entrance.
The Davao Finance Center has 20,000 square meters of leasable space.
The two office towers – which will be named One Republic Plaza and Emperador House – will provide an additional 30,000 square meters of office space.
“This will bring the total office inventory in Davao Park District to around 50,000 square meters, to date,” Megaworld said.
According to Megaworld, One Republic Plaza will be a 10-storey office tower, while Emperador House will be a 6-storey tower.
“This is just the start of our expansion of office offerings,” Megaworld senior vice-president Jericho Go said.
“Being one of the top BPO destinations in the country, we see an upward tick in the demand for office spaces in Davao City in the next 3 years. Megaworld is committed to respond to this demand so companies will not think twice of locating here,” he added.
Megaworld is the country’s biggest lessor of office spaces thus far, with an inventory of around 800,000 square meters nationwide.
First-time, new locators
“We will certainly bring first-time, new locators to Davao City. That’s the same thing that we are doing to other cities like Iloilo and Lapu-Lapu City in Cebu,” Go said.
According to the Megaworld official, Davao City is being developed as a “hot” pick for location in terms of skilled talents for the business process outsourcing (BPO) sector.
“By 2020, total direct and indirect jobs that will be generated in the township alone will reach 100,000,” Go said.
Other than the expansion of its office portfolio, Megaworld said it is also building a retail row and shophouses around the township.
A plan to put up a hospital and a school is also underway, the property developer announced.
At present, 3 towers of Megaworld’s residential condominium cluster, One Lakeshore Drive, are almost sold out.
Two more towers are scheduled for launch by Megaworld’s subsidiary brand, Suntrust Properties, Incorporated, within 2016.
“In the next 5 years, we hope to see more and more people coming home to the provinces because they find more opportunities here. This way, we also help decongest Metro Manila,” Go said.