The very center of the Metro and the most central of all business districts, Ortigas Center is still continuing its development just when people start to think that there is no more room for growth.
Ortigas Center to be technical about it is the business district thats bordered by EDSA, Ortigas Avenue, Meralco Avenue and Shaw Blvd. It encompasses Quezon City, Pasig City and Mandaluyong City all at once. Its known to house top conglomerates of the country such as San Miguel Corporation, Meralco, and Jollibee Food Corporation to name a few.
Geographically, its access to the northern cities of Quezon City, Caloocan City, Valenzuela and the eastern cities of Marikina, Antipolo and even the province of Rizal, gives Ortigas an advantage compared to other business districts when it comes to access to labor pool. Aside from this, comparing to other business districts as well, property rentals come at the lowest rates. From 2015, average office rental rates in Ortigas started at 400 / sqm and now we are at the 1st quarter of 2020, its averaging between 700 - 800 / sqm.
With this labor pool access and competitive lease rates of offices, locators naturally want to set up shop in Ortigas Center, most especially BPOs. However, as much as they would want to locate here, availability of office stock started becoming a challenge from 2014 - 2018 where vacancy rate even fell down to less than 2% in 2016.
This beautiful problem prompted developers left and right to search for available land to meet the demands for office supply. Now, in forecast, by 2019, 2020 and 2021, the development pipeline in Ortigas rose to an additional 150,000, 250,000 and another 150,000 square meters respectively.
Here are a few of the upcoming developments in Ortigas that we are excited about:
1. SM MEGATOWER by SM Supermalls
2. Jollibee Tower by Double Dragon
3. Exquadra by Exquadra Inc.
4. GLAS Tower by ASYA