Office spaces in the southern part of Metro Manila have become more expensive, this is due to the increased demand of companies. Addition to that, these employee’s experience daily traffic in the area that affects the entire economy to lose approximately 3 billion pesos per day due to traffic. Establishing business in congested areas is costly not only to the company, but also to its employees.
That is why companies in the central business districts should consider looking to other units in Quezon City (QC). The City is already growing in terms of creating and establishing business and there are several reasons that makes Quezon City as an attractive proper location for business.
First, cost is cheap. Rental prices of office spaces in the Quezon City are lower than the southern Central Business Districts. QC's office space only averages at Php503.79 per sqm per month (Read: The Future of Office Spaces). On the other hand, Makati and Taguig City rental prices are much more expensive, averaging at Php763 and Php635 per sqm per month. Situating business in Quezon City can help companies with lower costs of capital, and employees to manage their personal expenses better.
Quezon City also houses a productive set of labor force that shares the biggest portion which is 22.8% for the population in Metro Manila. 99.74% of the population is literate and most can do office tasks, making it more attractive. This is demonstrated by some companies already choosing to locate in Quezon City. In 2014, Expert Global Solutions, a global BPO-IT firm under JP Morgan & Chase, established business in the city due to its attractive labor force and IT-BPO conducive environment. Quezon Avenue, Cubao, and Commonwealth are areas with the most number of office spaces in the city, and are easily accessible through several modes of transportation and major roads.
Finally, a major real estate development which improve welfare of citizens and increase foot traffic, are on the horizon for Quezon City. MRT-7, a proposed railway system that crosses Quezon City has already started its ground breaking. This is expected to improve comfort and accessibility of transportation to the city. Additionally, the local government has laid out several plans to develop a Central Business District in the North and East Triangles and will house the Vertis North Township, a land development by Ayala Corporation, which will contain office, residential, and commercial spaces. Development like these can help businesses by attracting an excellent labor force, and increase connectivity with complementary businesses.
It is no surprise that a number of companies have already chosen to establish presence in Quezon City. With several factors making the city conducive to business operations, other companies in business districts should start setting up and to look for units in Quezon City.