Finding a commercial property to lease can be challenging in New York City’s competitive real estate market, so partnering with a real estate broker to facilitate the process can make finding suitable property much more straightforward and ensure you find what suits your business best.
Before signing a lease agreement, list must-haves and nice-to-haves and understand what a Letter of Intent entails.
Metro Manila
Finding the appropriate commercial space requires considering many factors, including location, size, amenities, and budget. Finding a space that best meets your needs so you can concentrate on expanding your business is of utmost importance – but understanding your budget also ensures you don’t overspend!
Manila’s best commercial spaces can be found in central business districts. Here you will find excellent infrastructure, easy access, and high traffic levels – not to mention plenty of retail stores, hotels, and restaurants for you to take advantage of! Whether looking to expand or relocate, centrally located spaces provide the ideal conditions to do either successfully.
Selecting an ideal location for your business can make or break its success. A strategic location will attract customers, increase revenues, and strengthen overall quality. This is particularly crucial for new startups as establishing brand recognition can be challenging without a comprehensive business model – finding an appropriate site will set you up for success from day one!
If you’re running a tech startup, Makati will make an ideal location. This city is well known for its innovation and creativity – perfect for developing your business further. Plus, being close to other companies makes networking with potential partners or clients much more straightforward, and hiring talent will only become easier!
Rent a commercial space in Ortigas Center as it is centrally located within Metro Manila and easily accessible from north and south NCR. Furthermore, its proximity to schools, hospitals, malls, schools, and universities provides you with easy access to clients of various backgrounds. In addition, this secure environment is excellent for companies requiring after-hours workspace.
Other commercial spaces for rent in Manila include photocopy and offset print shops, tutorial schools, spas, and self-service laundromats – perfect business opportunities for aspiring entrepreneurs and investors. Experienced investors could even purchase buildings and lease them to tenants as a steady income stream.
Metro Cebu
The City of Cebu is an energetic metropolis on Cebu Island in the central Philippines, home to numerous thriving industries, including IT, call center, and business process outsourcing companies. This success can be attributed to its well-educated workforce and advanced infrastructure, which makes commuting much more straightforward than in other areas.
Metro Cebu is home to numerous prestigious educational institutions with top-tier academic and research programs, drawing in students from neighboring provinces such as Bohol and Misamis Oriental for higher-level studies. There is also a substantial population of South Korean, Iranian, and Sub-Saharan African students taking advantage of lower tuition costs here than back home.
Metro Cebu is home to numerous educational institutions and reputable hospitals – some of which are publicly run while others may be private-owned or run independently – such as Vicente Sotto Memorial Medical Center, Chong Hua Hospital, and University of Cebu Medical Center.
Cebu Port is an integral component of maritime operations in the Philippines and ranks second busiest seaport by volume of cargo and passengers handled. Furthermore, it acts as an essential transportation hub between Cebu and other Philippine cities, such as Manila, contributing to regional economic development.
Metro Cebu is home to several dry docks and other maritime facilities that have transformed it into an essential center for shipbuilding and repair. These have provided numerous job opportunities for local workers in shipyards located here.
Cebu City remains the economic heart of its metropolitan area; however, other parts are also experiencing substantial development. A good example is the South Road Properties project’s potential to become one of Southeast Asia’s leading IT/BPO districts.
Special Economic Zones
Special Economic Zones (SEZs) are geographically delimited areas where governments encourage industrial activity by offering tax incentives and infrastructure support, also called free-trade zones or industrial parks. SEZs are used by both developed and developing economies alike as significant drivers of globalization and growth of the global economy, supporting jobs as well as trade and investment. UNCTAD recently joined seven international, regional, and national associations representing over 7,000 SEZs to launch a Global Alliance of Special Economic Zones to modernize SEZs while contributing more towards UN Sustainable Development Goals.
SEZs can be powerful tools in driving economic growth in their host nations, yet they can be costly and risky investments that require careful consideration and planning. Some SEZs fail to meet their intended outcomes, while others become white elephants that become costly burdens over time. The success of an SEZ depends on multiple factors, including its location, implementation capacity, and compliance with high social and environmental standards.
China used Special Economic Zones (SEZs) as part of its industrialization strategy to attract foreign investments and boost exports overseas. SEZs offered many advantages for investors and exporters alike, such as low labor costs and tax breaks and improved infrastructure with access to port complexes for shipping raw materials or finished goods overseas more easily.
TASEZ (South African Free State Special Economic Zone) is a premier example of an SEZ. Situated in South Africa’s agriculturally rich Free State, TASEZ provides easy access to both domestic and international markets for agricultural products while serving as a storage and logistics point. Furthermore, TASEZ has implemented a single-window approval process and adheres to high service quality standards.
SEZs depend on government participation, the workforce and public services quality, and their ability to attract foreign investors for success. To maximize these benefits, governments should set clear objectives and implement policies to comply with international trade rules while creating a business-friendly environment and offering efficient public services that support an efficient market system.
Flexible Leases
A flexible lease is a term given to any rental agreement that does not span for an agreed-upon amount of time, such as one full year. Such lease agreements can benefit tenants and landlords as they make finding space easier when needed. Both residential and commercial tenants can sign flexible lease contracts; their length depends mainly on what best meets the landlord’s requirements.
One example of a flexible lease arrangement is a commercial sublease, which allows businesses to rent space from another with an established commercial real estate lease agreement. Such an arrangement can help small and startup companies avoid punitive termination fees while creating opportunities to collaborate with other organizations. Subleases are frequently seen in office settings but also in retail or restaurant environments.
