Alabang, Muntinlupa City, Metro
The micro district of Alabang, part of the second
district of Muntinlupa
undergone tremendous growth in the last decade. It has become an IT
park for developing companies and has also boomed in the last 10
years, acquiring urban standards.
A super city in its own right, Alabang houses major economic players
such as Filinvest Corporate City, Madrigal Business Park,
Northgate Cyberzone Business District, and the
massive Insular Life
Overall, Alabang has transformed Muntinlupa into a strong financial
and commercial city.
Other notable establishments in the
city include the entertainments districts of Alabang Town Center
and Festival Supermall. Topnotch medical facilities such as the
Asian Hospital and Medical Center are also situated in
For companies that want to set up
business operations within Alabang, KMC Savills can provide fully
serviced offices spaces with private offices and coworking space
that caters to even the most specific business requirements. With
our large office and flexible workspace inventory, we can deliver to all business sizes
from startup, local and foreign SMEs,
Alabang Office Space
The Alabang CBD experienced a record
entry of new stock in 2017, with around 89,900 sq m of additional office space.
Despite the significant inflow of supply, the vacancy rate
increased slightly to 2.2% at the end of the year compared to 1.7%
Rents remained affordable despite the
Alabang market's impressive performance. Growing by 3.0% YoY in
4Q/2017, Alabang ended the year with an average rate
Php 637.8 sq m / month.
Our reports also show that
another 88,400 sq m of the gross leasable area is slated for
completion in 2018, but we also forecast a minimal effect on the
vacancy rate, given the robust occupier demand in 2017. Rental
growth may also accelerate indefinitely if market tightness is
sustained in the coming quarters.
The additional 38,900
sq m from Filinvest Axis Tower 1
barely made a dent in Alabang as the vacancy rate remained low at a
very tight 0.8% of total stock. Prior to its completion,
pre-leasing of the office building was robust as the demand from
the POGO sector expanded into the submarket.
With the tight market conditions in
Alabang, the average rent grew by 5.0% YoY during the quarter,
pegged at Php 662.3 per sq m / month. We have revised our
vacancy rate forecast downwards for Alabang given the entry of POGO
players in the submarket. We further expect an acceleration of
rental growth in the coming quarters, similar
experience in the Bay Area.