Business districts have long provided the lion’s share of office and commercial units to date. It’s a market dominated by the top developers in the industry, many of whom duke out a number of office towers and projects per year.
Smaller developers, called boutique developers, have now turned to smaller office developments in residential districts to gain an edge in the market. With a medium-scale office building that costs less, set within a strategic location, boutique developers hope to compete against the property giants.
Phillip Anonuevo, local director of Jones Lang Lasalle (JLL) Philippines, cited Shaw Center as a prime example. Set along Shaw Boulevard, the building has nine floors equipped with BPO offices, retail levels, and a leading retailer operating a supermarket and department store.
According to Anonuevo, Shaw Center should benefit from its proximity to Mandaluyong, Makati, Quezon City, and San Juan – districts with high populations and, as such, have a sizable chunk of the metro’s workforce.
“A location near the homes of potential employees is considered a plus by BPOs now keenly competing amongst themselves for employees. As the metropolis continues to suffer from congestion brought about by record economic growth and limited new infrastructure, work places closer to home simply make better sense,” said Anonuevo.
Shaw Center’s retail and dining amenities should also make it ideal for BPO offices. For retailers, the ground floor commercial units provide a a prime location with high foot traffic.
“It becomes a win-win situation for both the retailer seeking new markets and the BPO employer in need of new hires,” stated Anonuevo.