Written by Amy R. Remo
In the midst of an economic momentum, the Philippines has begun seeing a great “return to office” starting late last year—a move seen by businesses as a critical milestone towards post-pandemic normalcy.
Rising demand
With most companies now implementing either full scale operations or hybrid arrangements, demand for premium grade office spaces has thus grown—fueled largely by outsourcing companies that required bigger spaces not only for their planned expansions, but also for employees returning onsite after two years of working from home.
Data from CBRE showed that total demand for office spaces in Metro Manila and provincial districts had seen its strongest since the pandemic started at 156,800 sqm in the first quarter of 2022. The IT and business process management (IT-BPM) firms continued to account for bulk of the transactions in the first quarter followed strongly by traditional occupiers that included multinational companies engaged in energy, utilities, construction and engineering.
Similarly, Colliers Philippines pointed out in its latest report that the “Philippine office market appears to be turning a corner with the stabilization of occupancy as we recorded a positive net take-up after seven consecutive quarters of negative net absorption. The return-to-office and expansion plans of companies buoyed by (an) improving pandemic situation and economic stimulus measures should accelerate take-up for the remainder of 2022.”
Flight to quality
Amid this growing demand, however, there continues to be a “flight to quality” among occupiers and tenants looking for suitable, conducive spaces that will address emergent needs. Companies are now increasingly and particularly drawn to workspaces that adhere to sustainable practices and which can offer certain privileges both for their businesses and their employees.
Century Diamond Tower offers ideal working spaces with tangible benefits to the workforce.
The 35-storey Century Diamond Tower (CDT) in Makati City exemplifies that ideal office today as it does not only offer healthy, sustainable, and future-proof workspaces that can aptly cater to the changing landscape and preferences, but can also provide its locators with a host of fiscal and non-fiscal perks, owing to its registration with the Philippine Economic Zone Authority.
Rising within Century Properties Group’s flagship mixed-used development Century City Makati, CDT gives locators that highly sought opportunity to be in a PEZA-registered building, as it is one of the few remaining ones in Makati City. Locating here will allow companies to enjoy certain privileges including tax holidays and exemptions.
Efficiency in design is highlighted by the tower’s multi-lobby feature.
At the same time, CDT presents a reimagined workspace that ensures not only the productivity of the employees, but also their health, safety and well-being.
This premium grade A office building, which has a gross leasable area of 57,121.95 sqm, ensures that green, sustainable features, such as the variable refrigerant flow (VRF) airconditioning and a building management system, have been integrated.
Ideal fit
As it is, all these exceptional features make CDT truly the ideal fit for businesses looking to set up or expand their operations, including IT-BPM, multinational companies, as well as banks, corporate offices and even providers of flexible or co-working spaces.
Here, businesses are given certain flexibilities as it offers a typical floor plate of about 2,000 sqm, which can accommodate up to 300 seats. It likewise provides options for both major and minor telco service providers.
Century Diamond Tower’s open office layouts make for an enriching canvas for its occupants.
But what further makes CDT attractive for many businesses is its highly strategic location—right within Makati, a city that continues to command a premium to this day, and near thriving districts such as Bonifacio Global City and Mandaluyong City.
Elevator lobbies are an example of style-infused efficiency.
CDT is also located within Century City Makati, an already prime business address that places its locators and their employees within walking distance to upscale residential towers such as Century Spire, Gramercy, Knightsbridge and Milano Residences, Trump Tower, the four-storey retail center Century City Mall, and the 28-floor outpatient and medical tourism hub Centuria Medical Makati.
Right outside Century City Makati are other key establishments, retail hubs, and commercial complexes that may appeal to working professionals. The hip and happening Poblacion district as well as the numerous dining and retail hubs along Makati Ave. are just steps away from CDT.
Come 2027, residents and locators within Century City Makati will likewise find easy access to a nearby station of the Metro Manila Subway Project—a 33-kilometer, 17-station underground railway system that is targeted to seamlessly connect Valenzuela City to Pasay City.
CDT is no doubt well poised to capture the growing demand for premium workspaces that can give businesses that formidable, incomparable advantage amid this so-called great return to office and the country’s postpandemic recovery.
For leasing inquiries, please contact Jhonna N. Gatdula at jhonna.gatdula@century-properties.com.
ADVT