MORE business process outsourcing (BPO) companies doing high-value work are looking for more “prestigious” office spaces, according to an official of Leechiu Property Consultants.
Phillip Anonuevo, executive director of Leechiu Property Consultants (LPC), said BPOs are upgrading their office spaces “in a bid to keep their workforce engaged and loyal.”
He noted the traditional BPO office space designed for efficiency and functionality is being challenged by the Milestone at Fifth Avenue in Bonifacio Global City.
Milestone at Fifth Avenue is a pre-certified LEED Gold building that offers efficiency and prestigious design typically favored by multinational companies.
The 20-storey building has been recently accredited by the Philippine Economic Zone Authority (PEZA), which means locators can secure incentives such as income tax holiday for certain number of years and exemption from payment of local government imposts, fees, licenses or taxes.
Milestone at Fifth Avenue is on track for completion, and has attracted numerous inquiries from BPOs doing back office work or shared services, Mr. Anonuevo said.
Located near high-end residential apartments and landmark buildings like the Philippine Stock Exchange, Shangri-la at the Fort and Net Lima, Milestone at Fifth Avenue will have an impressive lobby and premium retail spaces at its ground floor.
The building offers extra large floor plates typically measuring 2,164 square meters (sq.m.).
“You could call it a hybrid building since it appeals to two distinct office markets with disparate needs and requirements,” said LPC manager Jo Abellanosa, who added that large floor plates allow a company to comfortably fit more people to a floor and maximize common spaces.
“Buildings with smaller floor plates would mean less people on a floor and perhaps more space assigned to pantries and meeting rooms and higher costs,” she added.
The building’s anchor tenant is occupying a fourth of the 28,263 sq.m. gross leasable area in order to consolidate its work force.
Mr. Anonuevo noted the building’s large floor plate was possible since Milestone at Fifth Avenue’s footprint covers two back-to-back lots — one fronting Fifth Avenue, and the other fronting Fourth Avenue.
“Acquiring properties that allow such floor plates is a feat and the reason why there are only two properties in BGC with this feature,” he said.
The building also has two lobbies, eight passenger elevators, multiple telco providers and variable refrigerant flow (VRF) air-conditioning. Its energy and cost-saving features include the use of LED lights and double-glazed curtain walls.
LPC is the exclusive leasing agents of Milestone at Fifth Avenue.