IT Park developer to build BPO-related infrastructure

The Cebu Property Ventures and Development Corporation (CPVDC), the developer of Asia Town I.T. Park (AITP) is going to maximize the 236,973 square-meter area and build more office buildings and other infrastructure to capture the growing number of Business Process Outsourcing (BPO) and IT related investments.

"Future development of AITP includes the construction of phase two of eOffice within 2006. The company has also started with its development plans for the remaining undeveloped five-hectare property within the AITP," said CPVDC chief operating officer (COO) Francis O. Monera.

During the stockholders meeting of CPVDC, Monera said the master plan of the entire property will also include a hotel and a residential development.

"To realize the master plan envisioned for the I.T. Park, marketing and sales efforts will push for locators who can provide component facilities to serve the growing I.T. community," he said.

Slated for renovation is the former "The Village" an entertainment facility, which ceased to operate with the expiration of its lease at the end of December 2005.

The commercial center business group, he said will operate a retail component that will include chill-out bars and specialty shops designed to operate 24/7 to serve the unique needs of the growing I.T. population.

"With the increase of available space for lease and added support facilities, we expect to attract even more investors to locate at AITP, as the preferred I.T. destination," he stressed.

In 2005, CPVDC, a subsidiary of Ayala-affiliate Cebu Holdings Inc. (CHI) generated total revenues of P121.8 million from the sale of two office lots (2,854 square-meters) and rental from eOffice locators. This represents a 10 percent increase versus the year-ago level.

Monera further reported that the company's bottom line for 2005 totaled P33.0 million, which exceeded the previous year's level by seven percent.

He said with the push towards making Cebu an Information Technology hub gaining momentum, CPVDC has drawn more investors towards its flagship project, the AITP, the largest cyberpark in Cebu.

AITP now hosts a number of I.T. and I.T.-enabled firms such as Globe Telecom, NEC Telecom Software Philippines Inc., NCR Cebu Development Center, Epson Precision (Phils.), Inc., PeopleSupport Philippines, Inc., eTelecare Global Solutions, SPI Technologies, Inc., Dash Engineering and VersaGrafx Designs Philippines, Inc.

"These firms, which represent a good mix of software research and development and contact centers, bring in millions of pesos in investments and employ thousands of people," Monera said.

Locators in the AITP employ close to 4,000 professionals whose payroll increased from P32 million in 2002 to over P100 million monthly or a total of P1.2 billion in 2005.

He added that CPVDC endeavors to build on last year's success, and increase the momentum it has jump-started in terms of attracting both foreign and local investments.

This in turn, translates to improved infrastructure, increased employment, and a boost in local economy, Monera added.