Demand for small office spaces rising

MANILA, Philippines — While demand for office spaces took a dip last year because of the pandemic, the latest trends suggest a rising demand on a particular segment of the office leasing industry, the top executive of Lucio Tan-owned Eton Properties said.

“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,” said Eton Properties COO Karlu Tan Say.

Eton Properties said it has been receiving significant inquiries from companies that would like to transfer from their unused large headquarters to small office spaces, given the need to downgrade operational expenses and the government’s recommendation for companies to implement flexible work arrangements, including working from home.

In order to keep up with the demand, Eton Properties is currently offering Blakes Tower, a mixed-use property development located in Makati City that answers the need for small and flexible office spaces, dormitories and residential units that can be leased out. This 36-story building has 11,000 square meters of leasable areas specially dedicated for 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,” according to Eton Properties EVP Charlie Carlos. “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,” he said.

Blakes Tower is located within the mixed-use complex of Eton WestEnd Square along Chino Roces in Makati. Within the development are BPO and offshore businesses hub, eWestPod and commercial center, eWestMall.