Filinvest inks deal with Cebu for BPO complex development
MANILA, Philippines - Filinvest Land Inc. recently signed a Build-Transfer-Operate agreement with the Province of Cebu. Under the agreement, Filinvest will construct BPO buildings on a 1.2-hectare property owned by Cebu province located in Salinas Drive, Barangay Lahug, Cebu City. The lot is formerly the site of the Bagong Buhay Rehabilitation Center (BBRC) and is beside the Asiatown IT Park, where prominent names in the BPO industry are located. The first BPO building is scheduled to break ground in May 2012.
Says FLI president and CEO Joseph M. Yap, “We are bullish about Cebu and we are confident about the Cebu government.” The construction of a BPO edifice is expected to generate about 3,000 to 5,000 jobs for Cebuanos.
Filinvest has extensive experience in developing a BPO complex, being one of the pioneering companies engaged in IT-BPO projects in the Philippines. It constructed its first IT-BPO campus in Filinvest Corporate City Alabang, Muntinlupa City.
“The way we are doing it here in the provincial government is not to dispose of or sell property in order to realize revenues,” says Cebu Governor Gwendolyn Garcia. “We take stock of our existing prime lots and realize what is attractive to the private sector for development based on our terms.”
Filinvest is also in the midst of developing Citta di Mare, a new city at the heart of South Road Properties. Spanning 50.6 hectares, Citta di Mare features the Il Corso waterfront lifestyle strip and a 40-hectare resort town with themed communities.
