MANILA, Philippines — A global business process outsourcing (BPO) player has tapped Filinvest REIT Corp. (FILRT) for its first office in the Philippines.
FILRT said it has signed an agreement with Gear Inc. for the lease of 1,993-square meter of premium office space in the company’s Filinvest One Building in Muntinlupa, with an expansion option within the same building.
“We are thrilled to welcome Gear Inc. to our Northgate Cyberzone Community. This lease agreement reflects our dedication to providing world-class office spaces that attract companies in the technology sector. We are grateful to Gear Inc. for its confidence that FILRT facilities will effectively support Gear Inc.’s business needs,” FILRT president and CEO Maricel Brion-Lirio said.
FILRT’s Filinvest One Building is a Grade A, Philippine Economic Zone Authority -accredited, EDGE Advanced-certified office building located in Northgate Cyberzone in Filinvest City.
FILRT said the infrastructure is tailored to support the expanding operations and strategic growth initiatives of companies.
Gear provides top-tier service to the leading global brands by investing in technology, people and operations.
Headquartered in Singapore, the company powers business growth with over 6,000 professionals from East, South, and Southeast Asia, North and South America, as well as Europe Middle East and Africa.
“Northgate Cyberzone buildings are exceptional in infrastructure, business continuity and sustainability. Having visited offices across Asia, the FILRT office buildings stand out for its world-class quality, comparable to the Singapore standard,” Gear COO Tan Seow Tien Desmond said.
As the real estate investment trust of the Filinvest Group, FILRT is gearing up to expand its portfolio through the acquisition of new assets from its sponsor Filinvest Land Inc. and parent company Filinvest Development Corp.
FILRT has also been diversifying its tenant mix with the addition of traditional tenants and co-working locators.
Its tenant mix is comprised of 78 percent multinational BPO companies, 11 percent traditional office and co-working, 11 percent hospitality and the remainder taken up by retail tenants.
The company has an average occupancy of 83 percent as of end last year, which is better than market occupancy of 81 percent.