New king rising: Andrew Tan is the country’s biggest office builder, landlord – Leechiu
Property

New king rising: Andrew Tan is the country’s biggest office builder, landlord – Leechiu

Bilyonaryo Andrew Tan’s Megaworld (MEG) has taken the lead among property giants in the highly competitive office market.

Leechiu Property Consultants has crowned Megaworld as the largest office developer and owner in the Philippines with over 1.4 million square meters in its inventory.

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Megaworld has around 70 office buildings across the country which serves more than 300,000 business process outsourcing (BPO) and traditional office workers.

In BGC alone, Megaworld has more than 900,000 square meters of office space with more than half in McKinley Hill and McKinley West while the remaining 400,000 sqm in Uptown Bonifacio.

READ: Andrew Tan’s 11 hotel properties get Safety Seal tag, vaccinate 95% of employees

Megaworld’s McKinley West township is home to the regional corporate headquarters of US-based global providers of integrated financial information, analytical applications, and other industry services in a P3 billion, 17-storey, LEED-certified office tower.

In McKinley Hill, American financial services titan Wells Fargo has its lone global business services headquarters in the country in a LEED Platinum-certified (for interior fit-outs), and LEED-Gold certified (for shell and core) building.

READ: PH’s biggest REIT IPO: Andrew Tan revs up for Megaworld unit’s P27.3B public offering

In its fast-rising Iloilo business park, Megaworld has captured 70 percent of the office market share with its nine office buildings (with a gross land area of 100,000 square meters) fully leased even amid the pandemic and the work-from-home trend.

Megaworld is close to finishing the 25-storey, build-to-suit Philippine Global Service Center of JP Morgan Chase Bank, the leading global banking and financial services provider, in Uptown Bonifacio.

The JP Morgan contract is the single largest office lease contract in terms of value.

Megaworld has kept its Eastwood City happy throughout the pandemic as anchor tenants IBM, Accenture, and NTT Data (formerly Dell) have stayed put after 1o to 20 years in the township.

 

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