Filinvest REIT Corp. (FILRT) has entered into an expanded lease agreement with Building Engineering and Design Co. (BEDC) this month to cater to the growing number of employees of the New Zealand-based firm.
FILRT said on Monday that the deal, signed early this month, increases the BEDC’s gross leasable area with the Gotianun-led firm —bringing the total space to nearly 3,500 square meters by the end of the year.
“We are excited to deepen our partnership with BEDC. Their commitment to innovation and excellence aligns perfectly with our goal to deliver world-class office spaces that exceed the expectations of our tenants. Together, we are poised to grow even more,” FILRT president and CEO Maricel Brion-Lirio said.
BEDC was first located in the Philippines in March 2023, with FILRT as its sole space provider for its headquarters in the country. It currently occupies an entire floor in Filinvest Two with 1,724 square meters of GLA.
Operations expand
Due to an increase in the number of its employees, BEDC expanded its operations to a new floor, effectively doubling its GLA within a year of beginning local operations.
“From 40 employees, we have increased to 400 within three years and are still growing. Everyone is proud to be here,” BEDC CEO Ben Powles said.
Filinvest Two is one of the 17 Grade-A office buildings in FILRT’s portfolio, located in Northgate Cyberzone, Filinvest City, Alabang.
As of the end of June, FILRT has a total of 330,448 square meters in total leasable area spanning 17 office buildings in Alabang and Cebu, and a commercial lot in Boracay.