ALI sees sustained demand for office space

MANILA, Philippines - Property giant Ayala Land Inc. sees strong demand for office space in the Philippines to continue in the coming years on the back of a booming business process outsourcing (BPO) industry.

ALI is targeting to put up 825,000 square meters of gross leasable office area by the end of the year from the existing 715,000 sqm after pouring in P23.4 billion for project and capital expenditures in the first quarter of the year.

The company plans to continue building more office buildings to address the need for leasable areas.

“The higher occupancy we experienced last year will continue,” said Carol Mills, head of ALI’s office division.

She said ALI was well positioned to address the market’s needs with the development of new office spaces in major business hubs across the country.

The company is transforming over 6,000 hectares of properties nationwide into economic growth centers similar to its established estates in Makati, Bonifacio Global City (BGC), Ayala Center Cebu and Nuvali.

It has recently completed the BGC Corporate Center and Bonifacio Stopover, the Alabang Town Center BPO facility, and additional office buildings in the UP-Ayala Land Technohub and eBloc 4 at the Cebu IT Park.

Mills said the company has established presence not only in Makati, BGC, Quezon City and Alabang, but also in Baguio, Laguna, Cebu, Iloilo, Bacolod, Davao and Cagayan de Oro.

“Our office spaces are developed according to global standards and are complemented by preferred amenities and the most reliable facilities management services,” she said. 

In BGC, ALI’s Bonifacio Stopover Corporate Center is a highly urbanized destination at the corner of 31st Street and 2nd Avenue and within the e-Square IT Zone. 

The state-of-the-art building offers 35,000 square meters of gross leasable area and provides easy access to major thoroughfares such as EDSA, Kalayaan Avenue, and C5. 

Neighboring BGC Corporate Center is a PEZA-registered facility offering a gross leasable area of 28,000 square meters.

The modern office tower is bound by two main roads: 11th Avenue and 30th Street and is within close proximity to Ayala Land Premier’s One Serendra residential condominium, Ayala Land’s Seda hotel, and is steps away from Bonifacio High Street.

Another development is the UP-Ayala Land Technohub in Quezon City which is the biggest office campus development within the metropolis with over 165,000 square meters of leasable space surrounded by green open spaces and is the ideal home to flagship locators such as HSBC, Manulife, IBM, Convergys and United Health Group.

In the first quarter of the year, ALI posted a net income of P4.7 billion, 14 percent higher than the P4.12 billion profit recorded in the same period last year on the back of consolidated revenues of P26.97 billion.