A large number of companies who are mostly comprised of start-up businesses and BPOs are looking for offices that are ready to be occupied in Quezon City. They are looking for fitted offices or fully equipped (plug and play) which is very cost –effective. BPOs and IT firms are still leading when it comes to office spaces in the real estate market.
In Quezon City alone, there are currently 300 IT or BPO firms and they have an annual revenue of $2 billion. As of 2015, Quezon City is still the number one choice when it comes to these offices and it houses some of the largest IT parks: Eastwood City Cyber Park and UP-Ayala Land Technohub.
PEZA Accreditation in building are really important because it is one of the factors that tenants see before renting a space. Office spaces in Quezon City ranges from a minimum of Php450 per sq. m. to Php1,200 per sq. m. Location and facilities are also important factors of a building/space. Even though some buildings that are not PEZA accredited are better than PEZA ones, it is still a basic requirement most international companies are looking for.
A 27% rental increase in office spaces occurred in 2015 as it rose to Php700/sqm from a Php500/sqm in the previous year. Quezon City will remain bullish because of its wide roads, access to all public transportation and availability of commercial spaces around.
Source: Property Market Report: 2015 and 2016 Forecast
PRIME Philippines Research 2015