Add’l 102K square meters in spaces expected in ‘19

ABOUT 102,000 square meters in additional spaces for rent will be available within the next two years, particularly fit for those looking for high-end spaces to rent like business process outsourcing, officials of a real estate service company said.

 Raphil Saguan, associate for capital markets and investments of Prime Philippines, said yesterday in Wednesdays @ Habi at Kape in Abreeza Mall that there are already clients that have gone on pre-leasing the spaces.

 “We notice that there is a high demand of Grade A buildings,” Saguan said. At present, he said there are 13,660 square meters of available spaces of Grade A buildings as 81% of the total 71,000 square meters were leased.

 Ruth Coyoca, senior assistant manager for commercial leasing services of Prime Philippines, said Grade A buildings are those that have construction cost of P30,000 to P35,000 per square meter, have backup power, variable refrigerant flow air-conditioning systems and fiber-optic communications system.

 These features of a building, she said, are what BPO locators need.

 Coyoca said the Grade B buildings, meanwhile, are cheaper compared with Grade A with construction cost that ranges from P25,000 to P30,000 per square meter. These buildings, she said, have bare shell, where the flooring is only plain cement.

 “We really need to build Grade A and B buildings to accommodate especially the BPOs,” Coyoca said.

 She said Grade C, on the other hand, has construction cost at a minimum of P15,000 a square meter. Unlike Grade A and B, she said these buildings have no backup power and would depend for the lessee to set up a generator.

 The Grade C buildings, she said, are fit for traditional offices.

 Saguan said most of the Grade A buildings in the city are situated at the Poblacion area with a rental fee that would amount to P565 per square meter. One example of a Grade A building, he said, is Felcris Centrale.

 “The rental fee increased by 5.6% from last year,” Saguan said.

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