Innoland launches third mid-rise project at Asiatown

CEBU, Philippines - Real estate developer Innoland Development Corporation announced the establishment of its third mid-rise building at the Asiatown IT Park, to take advantage of the strong demand for Business Process Outsourcing (BPO) office space in Cebu.

Innoland chief operating officer (COO) Charles Ong said in a recent press conference that the company will spend about P400 million for the 22-story building, its second BPO building in Asia Town.

Ong said the demand is so strong that its two BPO buildings, the 16-story TGUniversal (TGU) building, including its Sykes building in Mabolo are 95 percent occupied.

The company will break the ground to start-off with the construction next month, and expected to finish in the next few months.

Innoland is one of the most aggressive building and real estate developers in Cebu, which developments are initially focused on building condominium towers, and BPO buildings, in the premier locations such as the Asia Town IT Park, and the Cebu Business Park.

Early this month, the company announced its new condominium project that will be constructed at the CBP, which will incur the company another P700 million in investments.

Its first condominium building project at the Asia Town called Calyx Center which is almost completed is enjoying brisk condo unit sales, from both residential buyers, and commercial tenants.

Ong said part of the company’s plan is also to spread its development projects in the northern part of Cebu, owing the dynamic real estate sector in Cebu.

The company prides itself as one of the first LEED (Leadership in Energy and Environment Design) accredited developers in the Philippines, re-enforcing its commitment to build only environment-friendly buildings and residential projects.

Developed by the US Green Building Council, LEED is U.S., it is intended to provide building owners and operators a concise framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions.

Its newest condominium project to be called “The Calyx Residences” is situated at a 1,517 square meters property inside the CBP, two blocks away from Ayala Center Cebu, with studio units cost will be pegged around P2.5 million.

The 27-story “The Calyx Residences” is targeted to complete in next 36 to 38 months after the formal launching next month.

Ong reiterated that the company will leverage on its dedication to provide environment-friendly products in Cebu, where everything from construction to the design of each unit, and building facilities will give extra detail to upholding its commitment to pioneer the creation of a legitimate ‘green” building in Cebu.

The Calyx Center, a 26-story building at IT Park, is the first green hybrid building in Cebu.— (FREEMAN)