FBDC opens co-work space in BGC

MANILA, Philippines - Fort Bonifacio Development Corp. (FBDC), the developer of the Bonifacio Global City, has opened a new co-working space that caters specifically to small and medium enterprises.

Called Square One BGC, the co-working space is FBDC’s first project for startups under its growing office leasing portfolio.

“We have been in the office leasing business since BGC started and have mainly targeted traditional set-ups and BPOs, but it is about time we also offer small spaces,” said Eli Yaneza, FBDC’s manager for business development, property planning, and office leasing.

FBDC’s office leasing portfolio currently includes eight office buildings in BGC with five more in the pipeline which primarily cater to large-format office spaces.

According to Yaneza, operational costs for startups can be enough to discourage any budding entrepreneur to start a business.

“On top of the rent for a traditional office space, which can go as high as P200,000 for a 100-sqm area in BGC, one still has to consider the costs for other services such as water, electricity, internet connection, plus secretarial staff, among many others. Moreover, traditional office spaces are usually bare shell where the tenant will also have to budget for interior design, furniture and equipment. These concerns are addressed by co-working spaces,” Yaneza said.

FBDC said membership at Square One BGC was customizable depending on the needs of the business as clients may choose among small offices which can fit between three to 14 workers, dedicated desks, and hot desks where members can work anywhere within the social hall and library.

“Startups and growing businesses are founded by creative innovators with great ideas. Such business starters contribute to the country’s gross domestic product. At the same time, they help provide employment, income, training, and experience to other working individuals for them to become globally competitive,” Yaneza said.

Square One is located at the ground floor of the Bonifacio Technology Center in BGC.