Taguig City, Philippines — The Fort Bonifacio Development Corporation (FBDC), the developer of the Bonifacio Global City, has opened a new co-working space that accommodates specifically to small and medium enterprises (SME).
The co-working space, dubbed Square One BGC, is the FBDC’s first project for startups under its growing office leasing portfolio.
Eli Yaneza, the FBDC manager for business development, property planning and office leasing, said the company supported SMEs by giving them the opportunity to grow their startup company in one of the Philippines’ key business districts at a fraction of the normal cost.
“BGC has been attracting the creative class. They are the game-changers that may one day become another Mark Zuckerberg or Steve Jobs,” Yaneza stated. “We want to have a venue in BGC that provides the perfect environment for them.”
“We have been in the office leasing business since BGC started and have mainly targeted traditional set-ups and BPOs, but it is about time we also offer small spaces,” Eli Yaneza said.
The FBDC’s office leasing portfolio currently includes eight office buildings at the Bonifacio Global City in Taguig with five more in the blueprint which primarily offers to large-format office spaces.
According to Eli Yaneza, operational costs for startup companies could be enough to discourage any aspiring entrepreneur to start a business.
“On top of the rent for a traditional office space, which can go as high as P200,000 for a 100-sqm area in BGC, one still has to consider the costs for other services such as water, electricity, internet connection, plus secretarial staff, among many others. Moreover, traditional office spaces are usually bare shell where the tenant will also have to budget for interior design, furniture and equipment. These concerns are addressed by co-working spaces,” Yaneza said.
The Fort Bonifacio Development Corp., said leasing at Square One in Bonifacio Global City was customizable depending on the needs of the SME as clients may select among small offices which can fit between three to 14 people, dedicated desks, and hot desks where employees can work anywhere within the social hall as well as in the library.
“Startups and growing businesses are founded by creative innovators with great ideas. Such business starters contribute to the country’s gross domestic product. At the same time, they help provide employment, income, training, and experience to other working individuals for them to become globally competitive,” Yaneza added.
For as low as P600 per day or P12,500 a month, anyone can get his own office space at the Square One BGC’s 600 square-meter facility, which can cater a total of 180 seats.
The membership includes access to high-speed Internet connectivity, front desk services, meeting rooms and courier, as well as food delivery. The Square One for startups is located at the ground floor of the Bonifacio Technology Center in BGC.