Office quotes in BGC (Bonifacio Global City, Taguig) arrive in two units. Landlords quote PHP per sqm per month, and flexible operators quote PHP per workstation per month. The two numbers describe different things, so comparing them directly will mislead you. This guide shows how to convert both into one figure, the total monthly cost per seat, and which items usually sit outside a quote.
A workstation is one seat with a desk, chair and computer setup. CUSA means common use service area charges, which landlords bill on top of rent. A managed or serviced office is run by an operator, usually for a single seat fee.
What each quote usually covers
A landlord's per-sqm quote is usually the base rent for floor area. CUSA, VAT, utilities, cleaning, security, IT, fit-out and furniture are typically separate, and each is quoted or billed on its own. An operator's per-seat quote usually bundles space and services, but what it includes differs by operator, so check the list in writing. Neither unit tells you the total cost until you add what is missing.
The conversion formulas
Area per seat. sqm per seat = leased area / number of seats.
Landlord quote to cost per seat per month.
(rent + CUSA + running costs, each in PHP per sqm) x sqm per seat + (fit-out cost per sqm x sqm per seat / term in months)
Running costs are utilities, cleaning, security and IT. Add VAT if it is quoted separately.
Operator quote to a per-sqm figure.
seat fee / sqm per seat
Use this only to see what the seat fee implies, and compare it with the landlord's all-in figure, not with base rent alone.
Check the area. Ask whether the quoted area is gross or net, and how the building measures it. A quote on a larger measured area costs more per usable seat.
A worked example with hypothetical quotes
All inputs are hypothetical and are not quotes. Both options are for 200 seats at 5 sqm per seat, a 36-month term, with VAT excluded.
| Line | Landlord lease (PHP per seat per month) | Operator seat fee (PHP per seat per month) |
|---|---|---|
| Base rent, 1,300 per sqm | 1,300 x 5 = 6,500 | included |
| CUSA, 220 per sqm | 220 x 5 = 1,100 | included |
| Running costs, 400 per sqm | 400 x 5 = 2,000 | included |
| Fit-out, 40,000 per sqm over 36 months | 40,000 x 5 / 36 = 5,556 | included |
| Seat fee | none | 15,000 |
| Total before VAT | 15,156 | 15,000 |
| Total with 12% VAT | 15,156 x 1.12 = 16,975 | 15,000 x 1.12 = 16,800 |
| Per-sqm equivalent | 15,156 / 5 = 3,031 | 15,000 / 5 = 3,000 |
In this example the two come out within about 1% of each other, so the unit of the quote hid how close they are. The difference then sits in what the figures leave out: the landlord option adds restoration cost at exit, a security deposit and more upfront cash, while the operator option adds the operator's terms on seat reductions and early exit. Price those too.
Market anchor
Leechiu Property Consultants reported an average BGC office rent of PHP 1,167 per sqm per month at end-2025 (BusinessWorld, 20 Jan 2026). Individual quotes vary by building and floor. One undated broker listing at Milestone at Fifth Avenue shows PHP 1,400 per sqm. Treat these as context for base rent only, and not as a quote for any building.
Tax lines to ask about
VAT at 12% applies to rent when the lessor is VAT-registered, and commentary on lease taxes states that CUSA charges are generally subject to VAT as well (respicio.ph, 2026). Tenants of commercial buildings generally withhold 5% creditable withholding tax on gross rent, excluding VAT (respicio.ph, 7 Mar 2026). Whether the same treatment applies to an operator's service fee depends on how the agreement is written. Ask your tax adviser. This is draft information, not tax advice.
Checklist for comparing any BGC quote
- Is the quote per sqm or per seat, and for what measured area or seat count?
- Is it VAT-inclusive or VAT-exclusive, and is CUSA included or separate?
- Which running costs are included (power, air conditioning, water, cleaning, security, internet, IT support), and are any capped?
- Who pays for the fit-out and furniture, and over what period is it recovered?
- What is the minimum term, the escalation rate, and the free-rent or rent-free period?
- What deposit and advance rent are required?
- What does it cost to reduce seats or exit early?
- What must you restore at exit, and who prices it?
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