FLEXIBLE WORKSPACE provider The Executive Centre (TEC) is entering the Philippine market with a flagship office in Makati central business district.

In a statement, TEC said it will open its flagship center in Ayala Triangle Gardens Tower 2 within the second quarter.

The company is hoping to target domestic and multinational businesses looking for workspace solutions within prime locations.

“Philippines is an exciting opportunity to develop our presence globally while supporting the strategic growth of our members with our premium flexible workspace solutions that is currently lacking in this market,” TEC Philippines Country Manager Josh Alfafara said.

Mr. Alfafara noted many companies are shifting to more agile business models, and increasingly favor flexible workspaces over long-term leases.

“As we move into a ‘new normal,’ we foresee that even the most traditional of businesses will see the benefits of our unique premium flexible workspace offerings,” he said.

TEC opened in Hong Kong in 1994 and now has more than 150 centers in 32 cities and 14 markets. The company said it is the third largest serviced office business in Asia with annual turnover in excess of $237 million.