Location is critical to business operations. A great place can attract customers and clients. It perfectly displays products and services. It is accessible to the brand target market, partners, and staff. Considering the hundreds of new developments in the country, it can be a challenge to select a favorable location for an office or a shop.
Settling on the best workplace is imperative. The right business location in a property market adds to the business’ overall growth. Think of the structure of the building and the impact of the area on daily operations. These are the factors to consider when thinking of a business location.
The Philippine Property Market is a growing industry. The country’s consistent macroeconomic policies and high levels of consumption make it one of the strongest performers in Asia’s economies. It’s real estate market regarding office retail, residential, and industrial sectors are expanding. According to Rick Santos, Chairman and CEO of Santos-Knight Frank (SKF), the investment inflow of 2017 created a positive ripple effect across the property sector. The market will perform even better once the government infrastructure projects are in full swing to create a conducive business environment.
Despite the optimism, vacancy in Metro Manila increased by 5 percent during the third quarter of the year 2017 due to the large volume of the additional stock. This is good news for startups and business owners looking for a place to settle. They can choose from the establishments and facilities of high-quality developments in the country.
Customer and Talent Proximity
Dwellers and opportunity-seekers of the North can choose from office spaces in Quezon City. Meanwhile, entrepreneurs and passionate muses can venture into leasing a working area in Makati City. Consider these offices below to discover what the Philippine real estate market has to offer when it comes to office spaces.
1. U.P. Ayala Land Technohub
Referred to as ‘Technohub,’ it is in the center of the country’s premier university for bright young minds. The development comes with facilities and amenities required by a firm drabbling in technology or science. It has a Tech Portal and a Retail Plaza.
2. U.P. Town Center Corporate Center
The expanse of the PEZA-certified office facility lies on Katipunan Avenue. It is part of the University Belt and located within Ayala’s shopping mall. It has access to several retail brands, popular restaurants, and services for workers and residents in the community.
3. Vertis North Corporate Center
The Corporate Center is the latest addition to the office centers in Quezon City. It is part of a community with mixed-use residences, hotel, and entertainment areas. Shops at Vertis North are available at near public transportation for the working class of the North.
4. 6750 Ayala Avenue
Those who value elegance, sophistication, and visibility can fit right in the topnotch office location of Makati. The 6750 building is right beside the highly-rated bistros, luxury boutiques, and serviced apartments. It complements the cosmopolitan lifestyle of the city through its serviced and virtual offices and meeting room facilities.
5. McKinley Exchange Corporate Center
The towering office stands in the corner of EDSA and McKinley Road in Makati City. Though not within the vicinity of Makati Central Business District (CBD), it still has direct access to the MRT station, bus stops, jeepney and shuttle terminals. Conducting business in the area makes it visible to thousands of passengers passing Epifanio de los Santos Avenue (EDSA).
6. Solaris One
The prime property along Dela Rosa Street is BPO-ready. It comes with high-end facilities, centralized chilled water system, high-speed large-capacity elevators, and above- grounds parking lots. It is close to the retail and dining establishments of People Support Center and Convergys One.
These office and retail spaces are in the busy areas of each city. They are close to potential buyers and highly-accessible through different modes of transportation. The hassle-free travel attracts customers and clients to the business. The same goes for promising talents. The short distance and travel time improves their productivity. Employees can provide high-quality work when they have good health and are in the excellent working environment.
Expandability and Equipment
The office space must not only focus on the present. It must also lean into the future. Business will grow and expand in the future. The office must be able to accommodate all the equipment, furniture, and staff it takes in overtime. It is also necessary to have space intended for clients. A room for meeting and transactions makes them comfortable and feel welcomed. At the same time, the location of the business must have ample parking space.
It is a must for a firm to have ample space for their equipment for production and provision of service. Apparatus and machinery must spread out in various rooms to avoid looking cluttered. The working area won’t appear unpleasant when supplies are in their proper places.
Never invest in office space when you don’t have enough budget for it. Spending beyond financial limits causes financial troubles later on. Ensure lease payments and other expenses fits budget without compromising its quality. There are hundreds to thousands of office spaces available in the Philippines to become the home of a startup or business organization.
The real estate sector of the Philippines continues to exhibit growth as more infrastructure projects are on its way. The demand for mobility, flexibility, and connectivity from freelancers will shape the future office launches in the country. Developers continue to seek opportunity in and out of Manila to supply the need of increasing occupancy rate from various sectors.