PEZA certifies FLI-Capitol joint venture as IT center

CEBU, Philippines - The Philippine Economic Zone Authority has certified as “information technology center” the joint venture project between a Gotianun-led developer and the Cebu provincial government.

In a meeting earlier this month, PEZA board of directors passed a resolution granting the status of an IT center to Filinvest Cebu Cyberzone, a 1.23-hectare project in Barangay Apas.

The project would help provide “attractive incentives to firms registered with PEZA that would locate there.”

Filinvest Land, Inc., the developer, received Friday the official notice of the approval.

Under the BTO (build-transfer-operate) scheme sealed after a public bidding that FLI won in February 2012, the company is set to build the BPO complex and operate it for 25 years.

FLI obliged to pay the province a monthly rental of P50 per square meter for the land. Through Cyberzone Properties, Inc. that it had assigned for the project, FLI has so far paid the province P15.25 million over the past 18 months.

Once the project starts operation, the province is expected to receive a guaranteed additional P500,000 as its revenue share. This amount would increase if two percent of revenues go beyond the guaranteed amount.

“With investments reaching up to P6 billion, CPI is committed to provide a sustainable mixed-use project comprised of four towers,” the FLI statement read.

“The four towers will include BPO offices, commercial spaces, and possibly a hotel that are complementary to each other and will enhance business activity and property values of the Province of Cebu and the adjacent barangay in Cebu City,” it added.

Meanwhile, with its BPO locators, the cyberzone is seen to generate 20,000 jobs in the next five years, although it is targeted to initially employ at least 4,000 workers at its first tower.

Residents of Apas and Lahug will be given priority for employment during the construction and operation of the building complex, followed by residents in nearby barangays; Barrio Luz, Banilad, Busay, Camputhaw, Kasambagan and Mabolo.

FLI general manager Allan G. Alfon said the ongoing construction of tower one and half of the podium levels employ more than 500 skilled and unskilled labor.

Alfon also said that current tenants of Filinvest at Northgate Cyberzone, Filinvest City in Alabang, Muntinlupa, including HSBC and Genpact, Convergys, have expressed interest to expand their operations in Cebu and locate at the Apas site.

When Tower 1 is completed before the year ends, it will have a total of 92,981 square meters in leasable area, he added.

CPI integrated into its development a 24-hour electricity and backup supply, high-speed fiber optic telecommunications backbone and high speed international gateway facility or wide area network.

Filinvest Cebu Cyberzone will have a complete security and building monitoring system, high-speed elevators, centralized cooling system, and ample parking for its office and commercial tenants, employees, and clients.

Further, the project has plans for proper sewerage and sanitation for its liquid and solid wastes. A tank will collect rainwater and help mitigate releases into the drainage system so as not to contribute to the possible flooding in the lower areas of the city.  (FREEMAN)