KMC provides coworking spaces for rent, as well as private offices for lease in Ortigas. The Ortigas Center is among Metro Manila's most important central business districts, second only to Makati. Situated on the border of Pasig City, Mandaluyong City, and Quezon City, Ortigas is an area that acts as a crossroad for business and leisure.
Aside from serviced office spaces with private rooms for rent and hot desk options, Ortigas also houses several shopping malls. The most notable of these malls is SM Megamall, the second-largest shopping mall in the Philippines by gross floor area. Numerous cafes, nightlife bars, and artisan restaurants also line the street of Ortigas, offering executives and employees endless options for entertainment after a busy day.
But Ortigas is a central business district for a reason; the city houses numerous corporate headquarters. The main offices of San Miguel Corporation, Jollibee Foods Corporation, HSBC's Philippine branch, and numerous BPO and networking marketing companies call Ortigas home. Moreover, Ortigas houses the Asian Development Bank and Banco de Oro's main office, making the city a hub of continuous development.
KMC houses the Philippines' largest inventory of serviced offices and coworking space for rent in the Philippines. We can assist companies of any size to secure an office space for rent that completely suits their business needs.
The Ortigas CBD performed relatively stale in 2Q/2018. Vacancies continued to decrease to 2.5% of office stock in 2Q/2018 from 3.4% last quarter as there were no new completions during the quarter. On the other hand, Robinsons Cyberscape Gamma is anticipated to be completed by the next quarter and will add around 43,300 sq m of new office supply.
Rental growth recovered to 3.2% YoY in 2Q/2018 from 1.9% YoY the previous quarter. However, the recovery was still below expectations given the very tight conditions in the submarket.
The vacancy rate is forecasted to remain low in 2018 as pre-leasing for Cyberscape Gamma was reportedly to be brisk earlier this year. We may see some improvement in rental growth as well with the growing number of new Grade A offices. In the coming 12 months, The Podium West Tower, Jollibee Tower, and GLAS Tower are expected to improve the overall quality of office stock in the submarket and push up rentals that have been trailing behind the premier submarkets of Makati CBD and BGC.
We have plenty of serviced offices and coworking space in Ortigas. Contact us today for any inquiries you may have regarding our office spaces for lease.
Contact KMC MAG Group for Ortigas