THE completion of eBloc Tower 2 will open the door to more investments and job opportunities at the Asiatown I.T. Park, a top official of the Cebu Property Ventures and Development Corp. (CPVDC) said.
CPVDC president Francis Monera said eBloc Tower 2 is designed to support the needs and dynamic lifestyles of a global workforce. He said they aim to provide a unique environment that encourages productivity and efficiency within the “premier IT hub in the region.”
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Asian i-Office Properties Inc. (AiO) led the topping off of eBloc Tower 2 last Friday. AiO is a collaboration of CPVDC and Ayala Land Inc.
EBloc Tower 2 is a 16-level office building located in Phase 2 of IT Park. The building sits on a 4,383-square meter lot with a gross floor area of 34,762 square meters (sq.m).
The project is a sequel to the eBloc Tower completed in 2009. It is envisioned to become a premier location for business process outsourcing (BPO), information technology (IT), and information technology-enabled services (ITES) business locators.
Upon completion, eBloc Tower 2 will bring in over 26,500 square meters of additional leasable space within Asiatown IT Park.
“As a developer, we want to contribute to Cebu’s growth by maximizing the potential of the booming BPO industry. To address the continuing demand for office space, we have shifted our strategy to increasing our leasing portfolio, particularly within Asiatown IT Park,” Monera said.
Emilio Tumbocon, Ayala Land Inc. senior vice-president and Visayas-Mindanao group head, said eBloc Tower 2 is only one of the many investments in the leasing business that Ayala will be launching this year.
“We are looking forward to very strong growth by increasing our leasing portfolio over the next five years,” he said.
Tumbocon said the company will launch 13 new projects across the country with a total gross leasable area of 200,000 sqm this year.
“With these strategic directions, we will take on new ventures and maximize the potential of the BPO industry, particularly in the Visayas and Mindanao areas,” he said.
During the company’s recent stockholders’ meeting, Monera reported that AiO contributed P11.8 million to the company’s revenues.
AiO derives income primarily from the leasing of eBloc Tower, which was fully leased-out to NCR Cebu Development Center, Inc. and JP Morgan Chase and Co.
CPVDC’s total revenues last year reached P263 million, 21 percent higher than the previous year’s performance. Its net income stood at P164.4 million.
The National Economic Development Authority 7 projected that the continued expansion of the BPO industry in the region will spur construction activities and more BPO-ready buildings will be constructed at the IT Park.
Published in the Sun.Star Cebu newspaper on May 24, 2011.