CEBU, Philippines - Unfazed by the pending anti-outsourcing bill in the United States, the Ayala-led Asian i-Office Properties Inc. (AIO) recently announced to start with its P1 billion eBloc Tower 3 at the Asiatown IT Park, to accommodate the strong demand for e-office spaces in Cebu.
The eBloc Tower 3 that will be completed in the next two years will have 12 levels with a total of 15,764 square meters leasable area. It will be designed to have a substantial retail provision with landscaped storefront at the ground floor to cater the needs of the BPO workers in 24/7 cycle.
AIO, a partnership between Ayala Land Inc., and Cebu Property Ventures and Development Corporation (CPVDC), has expressed confidence of Cebu’s tremendous growth in the Business Process Outsourcing (BPO) sector, amid the threat of US bill.
AIO board member and president of the ALI Antonino T. Aquino said that the Ayala Group will continue to pour investments in Cebu, specifically in providing BPO related facilities such as the eBloc 3, while the province also tries to attract high caliber Knowledge Process Outsourcing (KPO) investments.
This year alone, the company allocated about P3 billion for more projects that will be introduced whether in the Asiatown IT Park or at the Cebu Business Park (CBP).
This early, AIO president Francis O. Monera said the third eBloc Tower has already gained the interest of potential tenants, most of them are expansion plans of the existing BPO locators in Cebu.
The group also indicated hints of building more BPO related buildings within its two twin properties the Asiatown IT Park, and CBP within the next few years.
The establishment of the eBloc Tower 3 is expected to generate about 20 percent increase of the employment opportunity in Cebu.
Today, Asiatown IT Park locators employ over 50,000 workers, about 75 percent of Cebu’s BPO players are making their offices at the cyberzone.
Aquino said the effort of Cebu in attracting the KPO level of services, reinforced the growth expected in the sector, both in employment and revenue generation.
This is the reason why the company has continued to invest in providing complementary facilities, while the market is still on its strongest, in terms of demand.
The eBloc 3 is a modern office building located along Atty. W. Geonzon Street in Cebu IT Park. It is the third installment to the eBloc Towers which are envisioned as premier locations for BPO, Information Technology (IT) and information technology-enabled services (ITES) business locators.
Last year, the company has invested P3 billion in Cebu, including those projects established by ALI affiliate brands such as Ayala Premier, Alveo, among others for the construction of high and medium rise condominium facilities at the CPB.
The company has allocated at least P10 billion investment for Cebu in the next few years, Aquino said, an indication that confidence and growth in the real estate sector in the province is on the rise, despite external threat of economic uncertainty and other challenging factors. (FREEMAN)