EXCERPT

BGC tenants are holding on to their spaces indicating their long-term confidence that things will eventually work out notwithstanding work-from-home arrangements and other difficulties of the moment. LPC brokers who closely watch for space availabilities in this district have even received inquiries for penthouse spaces signifying strong business optimism from those drawn to the area.

Consequently, BGC developers like Alpha Plus Property Holdings Inc., owner of the highly visible 32-story Ecoprime tower on the corner of 32nd and Ninth Avenue, are confident that Metro Manila’s 18 percent vacancy across all business districts will be temporary. More so because Peza spaces in BGC are currently registering a minimal 4 percent vacancy.

BGC buildings with available Peza space like Ecoprime continue to be sought after by IT-BPMs and firms that have sustained revenues during the pandemic due to their size, ability to make the most of opportunities or both. LPC Executive Director for Investment Sales Henry Cabrera relates that the largest concentration of multinationals is now in BGC with many having migrated from older buildings in Makati to newer ones in Taguig like the LEED Gold certified Alpha Plus development which has a superior air filtration system. “There are only two Peza accredited buildings in BGC available right now that can offer 10,000 sq m or more of contiguous space, and Ecoprime is one of them.

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