THE INTELLECTUAL Property Office of the Philippines (IPOPHL) announced that it will soon relocate its head office to Arca South, Taguig City, where it will have a bigger space as well as cut leasing cost.  

The IPOPHL said it purchased two floors spanning 5,999 square meters (sqm) at Savya Financial Center from Arthaland Development Corp.    

“With a permanent home, we see greater financial sustainability and greater fiscal space to work on our programs and create a greater impact for our innovative and creative communities,” IPOPHL Director General Rowel S. Barba said in a statement on Wednesday.    

According to the agency, the acquisition will expand its current office space by 908 sqm from the previous 5,091 sqm office space. IPOPHL is currently located at McKinley Hill Town Center, also in Taguig City.   

The IPOPHL said the new office will result in almost P5 billion in lease savings. The agency does not get an allocation under the national budget and sources its funds from filings.    

“We signed the contract to sell with the developer on May 24. The final price is pegged at P1.6 billion. This is a stark contrast to the P4.7 billion we estimate to incur if we lease for 25 years. The final amount also includes a substantial discount of about P225 million,” Mr. Barba said.    

“These savings may very well be diverted to service upgrades and expansion, helping improve our online services, pursuing our Digital Transformation program, and helping more businesses, innovators and creators in the country protect their IP assets,” he added. — Revin Mikhael D. Ochave

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