LISTED MREIT, Inc., the real estate investment trust of Megaworld Corp., has partnered with coworking space provider Common Ground to launch a workspace for startups and other tenants within the McKinley Hill estate in Taguig City, as well as in other Megaworld townships.
The workspace, called Common Ground Digital Park McKinley Hill, will offer nearly 2,000 square meters of office space in the Intellectual Property Center building, MREIT said in an e-mail statement on Monday.
The facility will feature event spaces, conferencing facilities, work areas, dedicated function rooms, meeting rooms, and brainstorming zones. It will also offer membership options such as day passes, hot-desking, and dedicated desks.
“This collaboration aims to support the growth of the entire startup ecosystem, while also enabling local startup companies and those based in other parts of the region and the world to establish their presence in the Philippines,” MREIT said.
Startup firms and other current office tenants in McKinley Hill will have access to the Digital Park’s facilities at discounted rates. The park will also host pitch sessions and incubator programs to connect startups with potential partners and investors.
“Aside from providing an important platform to support startup companies, the Digital Park at McKinley Hill will also serve as a common space for people living or working in McKinley Hill who are looking to find the right place to grow their businesses,” MREIT President and Chief Executive Officer Jose Arnulfo C. Batac said.
MREIT said McKinley Hill is the pilot site for the Digital Park, which will also be rolled out in other Megaworld townships, including Eastwood City in Quezon City, Iloilo Business Park in Iloilo City, Southwoods City in Biñan, Laguna, and Capital Town in San Fernando, Pampanga.
“We are incredibly proud to partner with MREIT, Inc. to build beautiful workspaces for the creators of the Philippines to connect, collaborate, and grow their networks and businesses. This is a key growth market for us and we are incredibly excited to leverage our partnership over the next few years to develop flexible workspaces in the Greater Manila Area and across the country,” said Chris Edwards, chief executive officer of The Flexi Group, parent company of Common Ground.
In 2022, Common Ground merged with Hong Kong-based the Hive and Australia’s the Cluster to form The Flexi Group, now one of the largest operators of flexible workspaces in the Asia-Pacific region.
The Flexi Group currently operates more than 45 locations across eight countries, including Singapore, Hong Kong, Malaysia, Thailand, Taiwan, Vietnam, Australia, and the Philippines.
MREIT shares rose by 0.58% or eight centavos to P13.90 apiece on Monday. — Revin Mikhael D. Ochave
