Eton Properties Philippines Inc., the property development arm of tycoon Lucio Tan, said it is seeing an uptick in demand for small office spaces from companies that are keen on moving out of their large headquarters.
Karlu Tan Say, Eton’s COO, said the company received “significant” inquiries from customers who would like to transfer from their unused large headquarters to small office spaces given the need to cut cost and the government’s recommendation to implement flexible work arrangements, including working from home.
“Having a work-from-home business model for employees would mean saving office expenses like utilities, supplies, among others. Shifting to a smaller office space can cut down costs without having to cut down on manpower,” Say said.
To keep up with demand, Eton Properties said it is offering Blakes Tower, a mixed-use property development in Makati City which features small and flexible office spaces, dormitories and residential units that can be leased out. This 36-storey building has 11,000 square meters of leasable areas especially dedicated to offices.
“It is an ideal one-stop-shop for employers who would like to provide a safe residence for their employees within the same building of their workplace,” Eton Executive Vice President Charlie Carlos said.
“With the pandemic permanently changing people’s perspective and forcing everyone to experience a ‘new normal,’ it is apparent how convenience and accessibility should not be a luxury but a necessity.”
Blakes Tower is within the mixed-use complex of Eton WestEnd Square along Chino Roces in Makati. Within the development are business process outsourcing and off-shore businesses hub, eWestPod, and commercial center, eWestMall.
Eton’s net income last year fell 11 percent to P802 million from the previous year’s P900 million. The company had a leasing portfolio of approximately 181,000 square meters of office space and over 45,000 square meters of retail space by the end of 2020.
Projects in the pipeline include the 36-storey Blakes Tower in Makati City which will have 10,500 square meters of office space and 14,000 square meters of residential space.
Others are the 4.3-hectare Eton City Square in Sta. Rosa, Laguna, with the first phase having 6,900 square meters of commercial space and NXTower I, an office building along Emerald Avenue and Ruby Road in Ortigas with 21,000 square meters of gross leasable area.
Read full article on BusinessMirror