Large financial research firm’s P3-B regional nerve center to rise in PH

Tycoon Andrew Tan-led property developer Megaworld Corp. is building a P3-billion office tower to serve as the regional corporate headquarters of US-based financial research solutions provider FactSet in MacKinley West, Fort Bonifacio.

The 17-story FactSet Tower would have 48,000 square meters of office space, Megaworld said in a disclosure to the Philippine Stock Exchange on Monday.

Set to be completed in 2020, the FactSet Tower would be constructed in accordance with LEED green building ratings program developed by the US Green Building Council, the disclosure said. LEED, or Leadership in Energy and Environmental Design, is the most widely used green building rating system in the world.

“We are enthusiastic about this long-term lease deal which we closed in New York weeks ago. FactSet’s expansive presence, which will be headquartered in McKinley West, demonstrates its continued confidence in the country’s growing economy,” Megaworld senior vice president Jericho Go said in a press statement.

“FactSet is delighted to expand our presence in the Philippines with this exciting milestone. The very skilled, talented, creative and hardworking FactSetters in our Manila facilities are instrumental in helping FactSet achieve our mission to solve our clients’ greatest challenges through the power of collaboration,” said FactSet chief executive Philip Snow.

Snow, along with other FactSet executives, sealed the deal with Megaworld in its global headquarters in New York City a few weeks ago.

“We are really committed to building more LEED-certified office towers. We want to make our developments more sustainable. We are closely working with FactSet to finalize its requirements,” Go added.

“FactSet wants to stress the importance of having a state-of-the-art ‘green’ building to help promote a safe and healthy work environment. This is one of the reasons why we continue to be acknowledged as one of the top companies to work for,” said Rachel Stern, senior vice president at FactSet.

FactSet, which is dually listed on the New York Stock Exchange and the NASDAQ, is a multinational provider of financial research solutions and investment analytics tools for investment professionals. It currently has 46 office locations in 21 countries employing more than 8,500 individuals.

Megaworld earlier committed to invest P45 billion to develop McKinley West, a 34.5-hectare township on the former JUSMAG property in Fort Bonifacio. —DORIS DUMLAO-ABADILLA