CITI Regional Operating Headquarters

Manila, Philippines

Citi is one of the world’s biggest banks with approximately 200 million customer accounts and works across 160 countries, providing consumers, corporations, governments and institutions with a full range of financial products and services.

With 4,000 employees already located in the Philippines, Citi was exploring further growth opportunities in Asia to develop a state-of-the-art, flexible workspace to support critical global business functions.

The senior executive team of Osborne+Co has extensive experience in the exacting standards required by the global institution.

We delivered the solution for Citi due to our unique ability to consistently provide world-class properties across various geographic regions of varying socio-economic and environmental standards.

Project summary

GDV: £230m

Project type: Large commercial HQ

Total sq footage: 900,000 ft²

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Offering a long-term lease, Osborne+Co was also uniquely positioned to provide Citi with fixed certainty around cost, with options to purchase in a market location that is now the prime CBD in Manila and has increased its asset’s business value exponentially, delivering competitiveness against the market.

Citibank Plaza is a 25-storey office building with a gross leasable area of 50,000 sq m with a typical floor plate of 3,000 sq m.

Located at 34th Street corner Lane the tower is LEED Platinum certified and PEZA accredited; boasting features including an energy-efficient double-glazed façade, high floor-to-floor ceiling spaces, and conducive amenities with various food establishments incorporated in the podium area of the building. The location links with major roads such as Kalayaan Avenue and provides access to different public transport methods.

The results

  • Citibank Plaza was born of a uniquely collaborative approach taken by Citi and Osborne+Co to address the Bank’s significant requirement in Manila
  • In 2016, Osborne+Co handed over a building accommodating 6,100 desks on a fully fitted basis, including all FF&E and IT infrastructure
  • The building is highly efficient, creating significant value for Citi from a total occupancy cost perspective
  • Citi fully occupies the building with exclusive naming and signage rights
  • The signing of a 15-year lease in June 2014 was the culmination of over 12 months of working collaboratively with Citi and their real estate advisors
  • This process began with an unsolicited proposal submitted by Osborne+Co to address and solve what we understood to be Citi’s requirement in Manila
  • Both base building and fit-out are LEED Platinum and PEZA certified

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