Financial services giant JPMorgan Chase has chosen Andrew
Tan-led property developer Megaworld to construct its 25-story
Philippine Global Service Center in Fort Bonifacio Global City.
In a regulatory disclosure, the listed firm said construction of the
building will be completed in 2021 with scheduled full operations by
2022. The project is a build-to-suit office building for the global
banking and financial services provider.
“Megaworld is proud to build the new home of JPMorgan Chase in Fort
Bonifacio as it consolidates its existing Metro Manila operations under
one roof — all in a state-of-the-art, prime and green office tower right
at the heart of the booming Uptown Bonifacio. This multibillion-peso
deal with a single company is the biggest in the country’s office
leasing industry,” Megaworld senior vice president Jericho Go said.
The JPMorgan center will be the biggest single office lease
transaction in the country in terms of total lease space to a single
company and transaction value, with nearly 70,000 square meters of gross
leasable area.
Raoul Teh, chief executive officer for the bank’s Philippine Global
Service Center, said the Philippines is a major strategic hub for the
company.
“Through this landmark development, we are able to consolidate our
presence to one location, enabling us to bring our Manila-based
employees together, facilitate increased collaboration while also
demonstrating our commitment to providing various career opportunities
within the firm,” he said.
In addition, the new development will provide a world-class working
environment for JP Morgan’s employees, said Jun Nepomuceno, Asia Pacific
head of the bank’s global real estate team.
“We are excited to be part of this new development that sets new
benchmarks for sustainability and reaffirms our global efforts to
maintaining exceptional working environments with only the best-in-class
infrastructure and facilities for our employees,” Nepomuceno said.
The property is strategically located along 38th Street corner 9th Avenue in Uptown Bonifacio.
It is a few meters away from the future Uptown Transport Hub beside
Kalayaan Avenue, the proposed Skytrain monorail system that connects
Taguig’s Fort Bonifacio to Makati, as well as the future Kalayaan
Station of the Mega Manila Subway and the Fort Bonifacio Bus Rapid
Transit System.
Featuring highly efficient office floors, innovative technology in
building design and having applied for LEED Gold certification, the
facility is designed by the award-winning UK-based architectural firm
Broadway Malyan.
Megaworld is among the country’s giant developers of office spaces
with a leasable office portfolio of around 1.2 million square meters to
date. It has already completed 54 office towers across the Philippines,
particularly in key growth areas in Metro Manila, Cebu, Iloilo, Laguna
and Davao.
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