An 11-storey building will soon rise in Sta. Mesa, Manila—close to the boundary of Mandaluyong City. Doña Elena Tower will be a mixed-use edifice being developed by Happy Coral Way Corporation.
Lobien Realty Group (LRG), the development’s sole leasing agent, is set to lease out about 19,051 square meters of office space upon the completion of the project. That land area will be added to about 99,874.29 square meters of gross leasable office space that is currently available in the City of Manila.
Currently, there are just 5,650,63 square meters of vacant space that is available for lease in the capital city of the country. That translates to a low vacancy rate of just 6% in the area—a relatively small figure given the robust demand for commercial office spaces in the market.
LRG, just like everybody else, takes a city’s office space market as a barometer for the economic state in the area. Businesses are expanding, jobs are being generated, and money is being spent when office spaces are highly in demand and supply is being taken up.
The site is an accessible location, surrounded by a wide variety of businesses and essential institutions. Doña Elena Tower will offer its future tenants the opportunity to work in a community where most of what they may want or needs is readily available. It is near the entry and exit ramps of the ongoing Skyway Stage 3 project, giving instant access to the burgeoning business and residential centers of Mandaluyong City—sparing tenants from the common hustle and bustle in the crowded central business districts of Makati City, BGC, or Ortigas Center.