MREIT introduces new coworking space for startups
The real estate investment trust (REIT) arm of developer Megaworld Corp. will soon house startup firms in a new coworking space as demand for hybrid work arrangements continues to grow.
This comes after MREIT Inc. partnered with coworking space provider Common Ground to launch Digital Park McKinley Hill within the 50-hectare McKinley Hill township in Taguig City.
“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 CEO Jose Arnulfo Batac said in a statement on Monday.
According to MREIT, Common Ground Digital Park will have 2,000 square meters (sq m) of office space in Intellectual Property Center.
Much like existing coworking spaces in Metro Manila’s central business districts, it will have dedicated function, meeting and brainstorming rooms for employees of companies it will host, as well as for individuals.
MREIT said it would offer membership packages and day passes. Those based in McKinley Hill will be offered discounts, MREIT added.
Apart from Taguig, MREIT plans to build similar “digital parks” within other Megaworld townships, including Eastwood City in Quezon City, Iloilo Business Park in Iloilo City, Southwoods City in Laguna province and Capital Town in Pampanga province.
Hybrid work arrangements
Real estate broker Colliers Philippines earlier reported that more employees based in Metro Manila preferred hybrid work arrangements postpandemic.
In an April 2025 survey, Colliers found that 33 percent of property stakeholders wanted their offices to become collaborative spaces, while 26 percent preferred the incorporation of smart technologies.
MREIT plans to expand its gross leasable area (GLA) this year by 24.5 percent to 600,000 sq m to pursue a goal of 1 million sq m by 2030.
Once achieved, MREIT will have one of the largest portfolios among the country’s REITs. Titleholder Ayala-led AREIT Inc. currently has a GLA of 4.2 million sq m, composed of 1.3 million sq m of buildings and 2.9 million sq m of industrial land.
