AboitizLand to build integrated commercial project in Mandaue

CEBU, Philippines - Aside from its active stand to pour in investments for residential projects in Cebu, Aboitiz Land Inc., is also currently crafting a full master plan of its planned integrated commercial project at the 15-hectare property at the Mandaue North Reclamation Area.

AboitizLand president Andoni Aboitiz said that the company will soon announce the concrete plan of the property, while one of the possibilities is to build an integrated commercial development on the area such as establishing BPO building, commercial and residential condominiums, and retail joints, among others.

This plan will be introduced along with other projects of the company, such as the recently launched Priveya Hills in the northern part of Cebu, which is targeted to property buyers that prefer sophisticated urban living.

The upcoming commercial project at the North Reclamation Area, Mandaue City, is another commercial development to be introduced by the company, after the Mactan Export Zone II.

This is to take advantage of the booming commercial real estate industry in the Cebu, specifically in providing more BPO-ready buildings.

Part of the initial plan is to invite a hotel developer to locate in the area, as well as build a series of mid and high-rise towers for condominiums and BPO markets.

Despite the establishments of more commercial buildings, specifically targeting the growing BPO market, Cebu still offers a huge opportunity for integrated developments, in order to complement with the fast growing demand and interest for fresh investments.

Record showed that as of December 2011, Cebu’s available office stock totaled to 428,075 square meters. Condominium units available for residential occupancy have reached 4,551, while hotel rooms in all category types now are at 11,169.

Cebu Investment and Promotions Center (CIPC) managing director Joel Mari S. Yu said this number is expected to grow in the next few months or years, while developers are building more commercial and residential condominium, as well as hotel rooms, as Cebu is considered as the fastest growing economy in the Philippines.

This year alone, At least eight new Business Process Outsourcing (BPO) companies to open in Cebu in the next few months, that will initially hire four to five thousand people in different professional backgrounds.

Yu earlier announced that the last two months were the fastest growing months in terms of investors’ inquiries in BPO.

This development indicated that Cebu needs more commercial facility and BPO-ready building to strengthen its attractiveness for new investments, as well as expansion programs of existing BPO operators here.

In 2011, Cebu registered a total of 126 IT-BPO companies operating here, which is an increase of 24 percent from the previous year.    (FREEMAN)