CPVDC to expand Cebu IT Park

CEBU, Philippines - The Cebu Property Ventures Development Corporation recently announced the expansion of its flagship project, Cebu IT Park, to cope with the robust growth in outsourcing and information, communication technology sectors.

Soon to add to the growing leasing portfolio is the redevelopment of the two-hectare superblock of Cebu IT Park by CPVDC and parent company, Cebu Holdings Inc.

This project will include a regional mall, office buildings and a hotel further enhancing Cebu IT Park's integrated components and strengthening its place as a prime investment and the preferred BPO destination, said CPVDC president Francis Monera.

Build-up at Cebu IT Park continues as the IT and business process outsourcing BPO thrives in the city, Monera said.

Over 100,000 square meters of gross floor area will be added to the park upon completion of two office buildings four residential buildings and a mixed-use building within the next two years.

This will add to the IT Park's existing buildings, with a total of almost 250,000 square meters.

Because of the booming IT industry, growth in terms of building space has grown significantly, with build-up in the last five years almost doubling that of what had been put up in the first 10 years.

Meanwhile, being at the forefront of Cebu's economic growth contributing and sustaining an ambiance of a thriving business community, Cebu IT Park was recently conferred a Special Citation by the Cebu Chamber of Commerce and Industry during the 2014 Grand Chamber Awards.

The park was given recognition for its significant role in developing and providing a platform for the emergence of the information and communication technology and business process management industry in Cebu.

The awardees of the 2014 Grand Chamber Awards were chosen by a panel of judges led by Department of Trade and Industry Region VII Director Asteria Caberte.

The citation, given last June 28, was given "in recognition of the exemplary contribution to Cebu - sustaining an ambiance of a thriving business community in general and an emerging ICT & BPM industry in particular, while creating jobs, increasing business and investment opportunities and finally contributing to the vibrant economic growth and development of Cebu."

Lauded for its exemplary contribution in increasing Cebu's business and investment opportunities, the IT Park is home to over a hundred companies and related services comprising over 70 percent of Cebu's business process outsourcing industry.

The mixed-use development economic zone was the first Philippine Economic Zone Authority accredited IT zone outside of Luzon.

It is host to the growing community of global brands such as the leading companies in the IT/BPO industry including JP Morgan Chase and Co., NCR Philippines, Accenture, Teletech, NEC Telecom Software Phils, Inc., IBM and Microsoft. The companies employ over 35,000 workers. (FREEMAN)