What Makes Ortigas CBD Perfect for Office Space Hunting for Startups?
Posted by Ortigas Land
Date posted November 21, 2019
Central business districts, or CBDs, serve as the economic hub of a city or region. As the focal point of trade, CBDs are characterized by well-developed infrastructure, high-performing utilities, major developments, high foot traffic, and accessibility.
In the Philippines, the three major CBDs are located in Makati, Bonifacio Global City (BGC) in Taguig, and Ortigas. Each contributes largely to the country’s economic growth. But of the three, Ortigas is the most ideal for startups.
Take a look at what sets Ortigas CBD apart from the other two.
Office lease rates in Metro Manila are getting more expensive, now averaging P1,419.68 per square meter. As the rates continue to rise, Ortigas CBD is the ideal area to lease. An office space in Ortigas Center can go as low as P500 per square meter per month, which is significantly cheaper than the P1,300 to P1,600 rate in Makati CBD.
The affordable lease rates in Ortigas Center make it ideal for small and medium businesses and startups that are working with tight budgets. Apart from affordability, the low rates give investors plenty of room for value for appreciation, which can increase your return on investment.
Ortigas Center acts as a pass-through point for these key metropolises: Pasig City, Quezon City, and Mandaluyong City.
The CBD is bounded by three major thoroughfares: Shaw Boulevard on the South, Epifanio de Los Santos Avenue (EDSA) on the West, and Ortigas Avenue on the North. Ortigas Center’s strategic location places it in proximity to transport networks and terminals by way of the Metro Railway Transit (MRT), bus stations, and jeepney bays.
Upcoming infrastructure developments such as the BGC-Ortigas Link and the MRT Ortigas South Station are expected to reduce traffic congestion. These projects will cut travel time, making it easier for professionals and consumers to get to and from the area.
Points of Interest
Anchored on Mandaluyong, dubbed the “Shopping Capital of the Philippines,” Ortigas Center serves as a gateway for mall-goers. This is a big advantage for Ortigas since shopping malls have ingrained themselves into the modern Filipino culture. Among the many malls located in Ortigas Center are Shangri La Plaza, the Podium, SM Megamall, Robinsons Galleria, and Estancia Mall, which is a relatively new addition to the mix.
Ortigas Center is abundant with lifestyle destinations. First is Barrio Kapitolyo, a popular “food crawl” spot. Kapitolyo is home to an extensive selection of cafes, bars and pubs, and restaurants, allowing foodies to indulge in international and local flavors in their own backyard. Another go-to lifestyle spot is Capitol Commons, a mixed-use development that houses the Estancia Mall.
These key spots in the Ortigas CBD ensure that the area is always teeming with people. Steady foot traffic in a certain location can be potentially good for a business, especially startups, since it increases the chance of visitors in brick-and-mortar shops. Heavy foot traffic may also help raise awareness about the brand since more people encounter its logo, signages, symbols, and other marketing materials.
Ortigas CBD is also home to high-end and low-end stores, which means it can attract consumers from middle- to high-income brackets. Compared with Makati and BGC that some people may find too upscale or expensive, Ortigas Center can capture a larger share of the market by means of socioeconomic class. Startups and small businesses can benefit from this market position to create as much noise about their brand as possible.
Ortigas Center is a bustling nest of industries, from financial institutions and banks, BPOs, retail, real estate, manufacturing, and media. As such, your startup can expect high-quality office buildings with all the amenities your business will need. A prime example is The Galleon.
Office Spaces in Ortigas Center
The Galleon is a two-tower, mixed-use development with modern, functional office spaces - a unique offering within the heart of Ortigas CBD. Its convenient location ensures that everything your startup needs is within your reach.
Contact us today to know more about the latest developments in Ortigas Center.