Megaworld to build P3-b FactSet Tower
Property developer Megaworld Corp. said Monday it won a P3-billion lease contract for the regional corporate headquarters of FactSet, a global provider of integrated financial information, analytical applications and industry-leading services.
Megaworld said in a disclosure to the stock exchange the 17-story office tower would rise at McKinley West township in Fort Bonifacio, Taguig and offer 48,000 square meters of office space.
“We are enthusiastic about this long-term lease deal which we closed in New York weeks ago. FactSet’s expansive presence, which will be headquartered in McKinley West, demonstrates its continued confidence in the country’s growing economy,” Megaworld senior vice president Jericho Go said.
FactSet chief executive Philip Snow said the company was delighted to expand the company’s presence in the Philippines.
“The very skilled, talented, creative and hardworking FactSetters in our Manila facilities are instrumental to helping FactSet achieve our mission to solve our clients’ greatest challenges through the power of collaboration,” Snow said.
Snow, along with other FactSet executives, closed the landmark deal with Megaworld in its global headquarters in New York City a few weeks ago.
Set to be completed in 2020, the FactSet Tower will be constructed in accordance to Leed green building ratings program developed by the US Green Building Council.
“We are really committed to building more Leed-certified office towers. We want to make our developments more sustainable. We are closely working with FactSet to finalize its requirements,” Go said.
“FactSet wants to stress the importance of having a state-of-the-art ‘green’ building to help promote a safe and healthy work environment. This is one of the reasons why we continue to be acknowledged as one of the top companies to work for,” FactSet senior vice president Rachel Stern said.
Megaworld is ramping up its projects as it aims to have 1.5 million square meters of office space inventory across the country by 2020.
The developer aims to break the 1 million sqm office space by end-2017, as demand from business process outsourcing companies and online gaming firms remains strong.
Megaworld currently has over 130 companies in its office rental portfolio, occupying around 850,000 square meters of offices space, making it the biggest lessor in the entire country.