Southeast Asia hosts a number of the world’s quickest developing economies. Rapid growth and development are paving the road for a number of countries in the region to mimic the achievements of the Asian “tiger economies” like Singapore, Taiwan, South Korea, and Japan. One such country is the Philippines; and consistent with research conducted recently, it’s well on its way to becoming among the largest economies on earth. All of this possibility of growth in the country may be the cause of steadily increasing office space rent in Manila. Firms that are looking to invest in and set up a presence in the nation should know about the options they have.
Business in the Philippines is flourishing because it is just one of the small number of nations that sustained economic growth despite the worldwide recession. It continues to be one of the most dynamic markets in the world, and outlook from various global financial firms remain optimistic. Several of the flourishing industrial sectors include business process outsourcing (BPO), tourism, mining, and commercial infrastructure. When it comes to establishing an office in the country, the Central Business District of Makati is your company’s most suitable choice.
About Makati
Makati is the Philippines’ financial centre, and plenty of major companies and multinational corporations do business from the city. A number of the businesses that occupy the numerous buildings in Makati include Standard Chartered, Shell, Chevron, Ernst and Young, plus a wide variety of various other banking companies. The cost of office space rent in Manila can be quite expensive as a result of presence of these firms. It’s important that enterprises run through all their choices prior to settling for one. If you would like your enterprise to project professionalism and an image of success, consider renting out or leasing an office space located along Ayala Avenue.
Why Ayala Avenue?
Ayala Avenue is the Philippines’ answer to Orchard Road in Singapore or Wall Street in Ny City. It is the country’s most in demand stretch of property and the majority of high-rise buildings in Makati are situated here. It’s an ideal location to establish your enterprise simply because of its proximity to other organizations and institutions, commercial establishments, in addition to its easy access to other parts of Metro Manila.
What do you need to look out for in an office space?
Among the first things to look for when renting out space in the Philippines is accreditation coming from and association with the Philippine Economic Zone Authority. This is actually the government agency that facilitates the business operations of traders in the nation, that’s why it must play a significant factor in the decision you will be making.
Cost-effectiveness is yet another thing you’ll want to be seeking. You will probably be surprised to find out that quite a few buildings in Makati charge higher than a building situated in the same area for nearly the exact same services. Try to find developers that can offer you more than merely a workplace space, but services that will get your business operational within the soonest possible time frame. Do not forget that a number of buildings offer basic fit-out packages. This consists of the personalization of the space with ceiling, carpeting, and other construction services. These services may seem basic, but these go a long way. Dealing with them earlier decreases the hassle of starting operations.
Office space rent in Manila can be pricy, so exhaust all of your options prior to making an investment. Look for a building that’s in a strategic location and has access to transportation and all the very best that the city has to offer.
The writer is a real estate broker in the Philippines who is highly knowledgeable in terms of options for office rental space in makati as well as buildings in manila.
