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Finding a descent job is hard nowadays especially that there are many factors to be considered like if it can sustain your family and your personal needs. In relation with this problem, business people are having a hard time in building their empire because they want the best space in town wherein it has the most foot traffic and is accessible to their employees, customers, and business people alike. This is a concern that should have been fixed a long time ago because it has created a domino effect in our world today. Endless traffic, tight and breathless situations in public transportations, hours wasted in long commutes, minimum-waged salaries, and anxieties caused by the stress in your everyday routine. It is just not worth what you really get in return. According to a market study, Quezon City is the largest city in Metro Manila with a whopping total land area of 161.126 km2. That is equivalent to almost ¼ the expanse of the whole Metro Manila. Yet, it seems that it has still been underutilized in terms of commercial establishments that have been put up. Most people still have longed and come in search for job opportunities in places such as Makati and Ortigas and it has not been doing well in terms of the person-to-public transportation ratio. Every day, people see and experience the madness that have come out of a nightmare and just treat it as a norm because most Filipinos have no choice. This is where the business and other firms should come in. Quezon City is a land of opportunity just waiting for developers and big time establishments to come in also in search for the hundred thousands of people waiting to seek a better option in building their future. Source: Property Market Report: 2015 and 2016 Forecast PRIME Philippines Research 2015
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
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. REFERENCES: http://www.philstar.com/headlines/2015/09/16/1500512/metro-manila-traffic-costing-philippines-p3billion-day http://thestandard.com.ph/real-estate/196328/things-we-wanted-to-know-about-real-estate-in-2015but-we-re-too-busy-to-ask.html https://en.wikipedia.org/wiki/Metro_Manila#Independent_cities_and_municipality http://quezoncity.gov.ph/index.php/facts-and-figures http://www.philstar.com/business/2014/06/13/1334170/bpo-firm-open-new-site-qc http://www.rappler.com/business/industries/208-infrastructure/122572-mrt7-groundbreaking-sanmiguel-ulc http://quezoncity.gov.ph/index.php/component/content/article/100/561-the-quezon-city-centralbusiness-district
PRIME Philippines was featured by Sonshine Media Network International (SOMN) during its office inauguration last June 3, 2016 at the Pacific Century Tower in Quezon City. Property Interactive Marketing Enterprise Philippines, or PRIME Philippines, is the fastest growing real estate service company in the country, providing effective and integrated real estate solutions to clients such as developers, investors, businesses, and others. As a young company with 3 years of operation, PRIME has already generated more than 10 billion pesos in sales transactions and has handled more than 60 projects. Led by the managing director Mr. Jet Yu, PRIME Philippines was able to achieve success through its comprehensive and personalized services that meet the clients' needs. "The good thing about PRIME Philippines is that we really tailor fit our services to the specific details and requirements of our clients.", said Mr. Yu. He also expressed that PRIME ensures that ample attention is given to each client. "We make sure that each team assigned to any project is not overloaded with other projects. We believe that in order to provide real estate service at the highest standard, there should be a dedicated focus." Achieving tremendous feats for such a new company, PRIME has become a respected authority in the industry. PRIME Philippines, staying true to its mission of providing real estate services at the highest standard, will continue to prosper in delivering innovative, effective, and personalized real estate solutions that bring success to its clients.