CEBU, Philippines — Cagayan de Oro-grown Johndorf Ventures Corporation (JVC) announced the expansion of its real estate development portfolio to build more office and commercial buildings moving forward.
The company officially topped off its 21-storey office building at Cebu Business Park (CBP) yesterday, to kick off its entry to the non-residential development component in real estate.
The Johndorf Tower, which is set for completion next year, will be the company’s headquarters as it positions to capitalize on post-pandemic real estate rebound.
Known as one of the top residential developers in Visayas and Mindanao, JVC is now capitalizing on the rebounding commercial and office leasing business, said the company’s construction director Raymond Wilson Lim.
A Philippine Economic Zone Authority (PEZA) registered building and with LEED (Leadership in Energy and Environmental Design) system of the U.S. Green Building Council in place, Lim expects to attract tenants immediately after the construction completes.
Offices will be distributed over 11 of the tower’s 21 floors. Five levels are dedicated for podium parking. There will also be retail outlets at the ground floor and a service deck for tenants.
According to property consultant David Leechiu, founder of Leechiu Property Consultants (LPC), JVCs major partner, the JVC Tower is uniquely attractive and will be completed at just the right time that workers are returning to office environments.
JVC has a 36-year history of developing residential projects. It first ventured into the economic housing market, later successfully transitioning into mixed-use development.
Along the years, JVC created 30 different communities in Davao, Cagayan de Oro, Iligan, Butuan and Cebu.