CEBU, Philippines - The Asian iOffice Properties Inc. (AIO) is going to build a 16-level modern office building at the Asiatown IT Park to accommodate strong demand for office space among local and multinational Business Process Outsourcing (BPO) and IT-related investments.
AIO will introduce today its state-of-the-art building that is envisioned to become a premier location for BPO (business process outsourcing), IT (information technology) and ITES (information technology-enabled services) business locators in the country.
This project is a sequel to the successful eBloc Tower completed in 2009.
The building sits on a 4,383-square meter lot with a gross floor area of 34,762 square meters. Over 26,500 square-meters of which will be available for the BPO, IT and ITES business locators.
This new building will have a substantial retail provision with landscaped storefront at the ground floor to cater to the needs of BPO workers 24/7.
In addition, six floors with open-air podiums are allotted for parking space which can accommodate 440 parking slots.
AIO is a special purpose vehicle created through the contribution of investments from Cebu Property Ventures Development Corporation (CPVDC) and Ayala Land Inc., (ALI) to address the increasing demand of office space in Cebu.
Cebu City is dubbed as the leading Information and Communication Technology (ICT) center of the country and is among the top 50 Emerging Global Outsourcing Destinations in the recent Tholons global services survey.
From purely selling lots at the Asia Town IT Park, CPVDC has now shifted to constructing IT building starting with eBloc in partnership with ALI.
The company also will start the development of 5-hectare idle lot at the cyber-park by second half of 2010.
In an interview earlier with CPVDC president Francis O. Monera he said that the company has taken advantage of the robust growth in the ICT industry specifically in the intense interest of multinational BPO firms to locate in Cebu.
He said the average 25 percent growth of the BPO/ICT industry in the Philippines amid the challenging economic environment is a good indication that demand for BPO related office rental will continue to be strong in the next few years.
An IT Special Economic Zone operating for almost seven years now, Asiatown IT Park has played a significant role in laying down the ground work for pushing Cebu as the ideal destination for IT investors.
Asiatown IT Park is now the location of well known BPO firms such as JP Morgan, NCR, Convergys, eTelecare, PeopleSupport, among others and these IT locators are employing over 13 thousand people.