Supply of prime leasable office space in Alabang, Muntinlupa City is seen to rise with the launch of a new building in the Madrigal Business Park strategically located along the major thoroughfare of Alabang-Zapote Road south of Metro Manila.
The Paz Madrigal Plaza is one of the very few premier office buildings to rise in the exclusive business estate in several years. The Madrigal Business Park is an integral component of the overall mixed-use masterplan of Ayala Alabang, along with the gated residential village and the Alabang Town Center commercial complex.
The project will be managed by independent real estate player GeoEstate Development Corporation in strategic partnership with developer Broadleaf Inc., the property holdings firm of the Madrigal-Warns-Gonzalez family who is part of the original estate owner of Alabang. The building will rise on one of the last remaining prime pieces of property on the 20-hectare south wing of the business park. It is separated from the 7-hectare-plus north wing by the Alabang-Zapote Road.
Paz Madrigal Plaza is GeoEstate’s first foray into the office building sector. “We bring to the market today a rare opportunity to get into the heart of the central Alabang business district,” stated GeoEstate chairman and chief executive officer Francisco H. Licuanan III. “With this exciting new project, we are unlocking the value of an extremely prized piece of land at an opportune time of continuing uptrend in office space demand especially in the area south of Metro Manila.”
“We look forward to this new building—a boutique address on a corner property—which we believe will be a welcome new place to work in Alabang, and will further enhance the community,” added Gizela Madrigal Gonzalez of Broadleaf Inc.
The Paz Madrigal Plaza is envisioned as the namesake landmark office development in the Madrigal Business Park, offering close to 6,000 square meters of leasable office space across 7 floors. Other features of the state-of-the-art building include four levels of parking space and 100 percent back-up power, making it suitable for the demands of modern, high-technology businesses and enterprises.
GeoEstate has built a strong reputation for upper-market vertical and horizontal residential developments in urban as well as emerging suburban locations in the past eleven years. Most recently, GeoEstate also entered into a partnership with property holdings firm Stonebridge Corp. also of the Madrigal-Gonzalez family for the development of Sonria, a high-end condominium enclave in Madrigal Business Park. The project was fully turned over to residents last year.
The Paz Madrigal Plaza is slated for completion by 2019.
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