Greater Ortigas: A Less Expensive, More Practical Alternative
6/25/2018 | By Kyle Edriel Tomagan
The Philippine corporate landscape is evolving as the Philippines is now one of Asia’s most aggressive economies, with a 6.7% economic growth rate YoY in 2017. If there’s any time to invest or start doing business in the Philippines, the time is now.
But for emerging businesses or expanding multinationals, choosing the perfect office space also means selecting the right location. With the major business hubs of Metro Manila (BGC, Makati, and Ortigas) becoming more crowded, an alternative, second-tier CBD such as Greater Ortigas offer just as much value for your investment.
Cut Down on Costs
The median lease rate per square meter across the CBDs is Php 1,150 for a unit in a Grade A building. If you require a private office even for a small operation, the leasing and utility fees will add up, becoming quite costly.
Comparing these rates with those from Greater Ortigas cities such as Quezon City, Mandaluyong, and the northern part of Pasig, startups and MNCs can save much more on leasing office space in these areas.
According to KMC Savills, Quezon City office space lease rates for a unit in a top-tier building clock in at Php 825 while the leasing costs in Mandaluyong are at Php 780. The conclusion is simple: opening an office in Greater Ortigas is much more cost-effective.
Work Hard, Play Harder
BGC, Makati, and Ortigas are not just drivers for the Philippine office space market, they’re also known as the finest entertainment districts in the metro. Makati’s Ayala Triangle is considered the best shopping district in the country, while BGC is a sprawling lifestyle hub.
But the Greater Ortigas area offers just as much options for leisure. The group of malls around Ortigas is easily accessible from Mandaluyong, and Quezon City has a variety of malls as well. Fisher Mall, Fairview Terraces, SM North EDSA, and other large shopping districts surround the city, offering employees the opportunity to relax after a long day at work.
Benefit from World-Class Facilities and Excellent Governance
The Greater Ortigas area boasts various establishments that offer services on par with international institutions. The Medical City in Mandaluyong, as well as St. Luke’s Medical Center and the National Kidney Transplant Institute in Quezon City provide world-class healthcare to residents and employees in the area.
The cities in Greater Ortigas also possess some of the most competitive local governments in the country, with ordinances geared towards making each city a better place to live and work in. QC has lessened the usage of plastics in 2012 to reduce its carbon footprint.
In 2014, Mandaluyong City implemented Ordinance No. 535, S-2014, providing regulations and policies to improve energy efficiency in the city’s buildings thus empowering green practices.
New Business Destinations
As it stands, these cities in Metro Manila’s northern reaches are the perfect choice to lease office space. With the evolution of the country’s business landscape and the various benefits that Greater Ortigas cities offer, MNCs and startups can move into the Philippines and start doing business with little to no difficulty.