More businesses and investors are now looking to Alabang as the next ideal location. The central business district is located at the heart of Muntinlupa City and now houses the most exclusive subdivisions and commercial centers.
More recently, it has been an attractive destination for multinational companies and other forms of enterprise given its accessibility and economically-savvy features. The Philippine Economic Zone Authority made Alabang a special economic zone, granting business locators in the area tax incentives and income tax holidays.
Alabang Office Market Performance in 2018
Data shows that vacancy rates in Alabang remain low at 0.8% of total stock. It also introduced an additional 38,900 square meters after the completion of the Filinvest Axis Tower 1. Pre-leasing of office buildings in the city remains robust due to new market entrants.
An above-average rental growth of 5% YOY was observed in Alabang as more Philippine Offshore Gaming Operators (POGO) enter the market. This led to a tight market condition that raised rents to Php 662.3 per square meter per month. Rents are still expected to accelerate further in the coming quarters.
The current stock of Grade A offices for lease is currently pegged at 440,195 square meters with an incoming development pipeline of 159,010 square meters. One Griffinstone was recently in the third quarter of the year. Parkway Corporate Center and Filinvest Axis Tower 1 will also be completed early 2019, boosting the premium building portfolio of the city.
Doing business in Alabang
Alabang is home to Filinvest City, a premier business hub slowly evolving as a top location for multinationals and all business sizes. It is a top pick for branches and headquarters for most companies seeking to expand their operations in a major CBD.
It is also highly accessible through various forms of public transportation such as jeepneys and the MRT. Private vehicles can also take the South Luzon Expressway for faster travel to the city.
Locating your business in Alabang is more cost-effective given its competitive pricing. Office space rates in Alabang are relatively cheaper compared to other Metro Manila CBDs. It is also at par with BGC and Makati when it comes to technologically-advanced facilities. It also now offers co-working spaces to accommodate startups and other small-to-medium enterprises.
For any Alabang office space needs, contact us at 403-5519 or email [email protected].