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Where to Rent or Buy Commercial Property

May 31, 2012 | Comments: 0 | Views: 207

Many business owners may tell you the Philippines is a great place to start a business, especially if you have your headquarters in Makati City, the country's center for commerce. If you want to start your business on Philippine soil, you need to rent or buy commercial property in the country's entrepreneurial nerve center.

The Foundations of Business Central

Looking at Makati's impressive skyscrapers and well-developed walkways, you would never even think the area was once a swamp. The founder of Manila, Miguel Lopez de Legazpi, thought the area was worthless when he discovered it in the 1500s. The area's initial name, San Pedro Macati, was actually the result of a miscommunication when de Legazpi asked the natives what they named the area. They thought he was asking about a nearby river's tide, and they said "Makati, kumakati na," ("Receding, it is receding,").

Makati began transforming into what it is today after World War II. Thanks to the contributions of the Ayala family in the 1950s to 1970s, Makati kept growing until the declaration of its status as an independent city in 1995. Since then, Makati has been one of the country's wealthiest and most well developed cities. Many big corporations' main headquarters are in Makati, and so are some of the best malls and residential villages.

Where to Rent or Buy Commercial Property in Makati

Some of the best commercial spaces for rent in Makati are in the city's central business district. The city's main arteries (Ayala Avenue, Paseo de Roxas, and Makati Avenue) are in this district, along with fifty of the Philippines' tallest commercial buildings. These include LKG Tower, RCBC Plaza, and PBCom Tower. The district also includes high-class residential towers, five-star hotels, and foreign embassies.

Choosing the Best Space for Your Business

You should think about a couple of things before you rent or buy commercial property in Makati. The first is space. Even if you expect your business to grow in a short amount of time, you should avoid spending too much by renting a large, expensive office space. There's nothing wrong with starting small. If renting an office space in the central business district is too much for your budget, you can look for alternatives in other areas of the city. Many buildings offer smaller spaces that work just fine for fledgling businesses. Make sure to do a thorough inspection of the space, though, especially if it's located some distance away from the city center.

Think about the amenities you need to attract the right kind of employees and to keep them happy. A reliable air conditioning system is one important amenity a good commercial space for rent in Makati should have. The Philippines is a tropical country, where heat and humidity often reaches uncomfortable levels. Having an office close to public transportation terminals also helps, as many employees live outside the city and rely on public transportation.

Remember, finding the right commercial space for rent in Makati has a huge impact on the way your business operates in the Philippines. Make sure to consider your options carefully before deciding to set up shop.

Debra Crow operates a Philippine-based business, and can offer tips on how to buy commercial property and find a commercial space for rent in Makati.

Source: EzineArticles
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