BANK OF THE Philippine Islands (BPI) has unveiled the look of its new P13.6-billion headquarters set to be built in compliance with sustainable and environmental-friendly standards.
The 45-storey building to be built in Makati City is set to be completed by 2029 and will house not just the headquarters of BPI but also other firms as commercial spaces will be leased.
“The design of the architecture will reflect our strategic priorities of innovation, inclusivity and sustainability,” BPI President and Chief Executive Officer Jose Teodoro K. Limcaoco said at a briefing following the groundbreaking event on Tuesday.
Located at the corners of Ayala Avenue, Paseo de Roxas, and Dela Rosa at the Makati Central Business District, the building will have a 100% glass facade and energy-saving features.
Officials said the construction is expected to be finished by the fourth quarter of 2029, with BPI set to occupy the building by 2030.
“This will be a joint venture between BPI and Ayala Land, [Inc.] (ALI). BPI will own 51% and Ayala Land will own 49%,” ALI President and Chief Executive Officer Bernard Vincent O. Dy said.
Mr. Dy said their construction timeline already takes into account measures to ensure the adjacent building is protected.
BPI said it will seek authentication from global institutions like EDGE, LEED, and WELL to ensure the building will be sustainable and environment-friendly.
The plan for the new headquarters was conceptualized by global design firm Skidmore, Owings & Merrill in collaboration with Aidea Philippines, Inc.
The new BPI building will have seven basements and will have a height of about 224 meters.
The headquarters will have a gross floor area of 89,000 square meters (sq.m.), where 60,000 sq.m. can be used to accommodate 6,500 occupants. BPI will occupy half of this, while the remaining 30,000 sq.m. will be leased as commercial spaces.
Aside from housing the bank’s main branch, other amenities include a civic space and amphitheater, forum and events space, and food and beverage outlets.
BPI Chairman Jaime Augusto Zobel de Ayala said they expect the construction activities for the headquarters to create 1,800 jobs in the area.
BPI’s headquarters will be built at a time when organizations are rethinking the future of workplaces in a post-pandemic world. Mr. Limcaoco said they have taken this into consideration, but said the notion that office spaces are already a thing of the past is “wrong.”
“I don’t think we’ll ever go to everyone’s working from home. There’s always a need for people to come together, and to work together for collaboration to build trust,” Mr. Limcaoco said.
“New offices of the future probably have a lot more collaboration space and more common areas, probably more on the concept of [people] not having a permanent desk,” he added.
Mr. Dy said future workplaces will likely have a hybrid setup.
“I think for most days, people will be in the office but there will be some flexibility for people to also be able to work in their homes,” he said.
BPI’s net income increased by 11.5% year on year to P23.88 billion in 2021, as the decline in its loan loss buffers and higher fee income offset lower interest earnings.
Its shares closed at P96 apiece on Tuesday, up by P4 or 4.35%. — L.W.T. Noble