A state of the art IT Park sets to develop next year in
Cebu Property Ventures Development Corporation (CPVDC) will finally start the development of Asiatown IT Park which will be the additional home for other call center and IT companies that plans expansion in Metro Cebu.
CPVDC president Francis Monera said the company, which has already begun horizontal development of the 5-hectare property project, has earmarked more than P200 million for this initial work.
“The demand we see from the BPO is still there. It is not as it was originally forecasted but we see the industry growing at 25 percent in the next few years,” Monera said.
Monera said CPVDC also plans at least three major vertical developments in Asiatown for 2010 when two BPO buildings and one residential-hotel building will be constructed.
The project’s e-bloc, a joint venture between CPVDC and Ayala Land Inc., has been fully leased out seven months after it was completed.
Two BPO locators, the Atlanta-based NCR (National Cash Register) and JP Morgan Chase Inc., share the P800-million building, which was CPVDC’s first venture in developing its own building. The company used to sell only lots in its property projects.
The new development, initially called the enclave, is located at the far corner of the 24-hectare Asiatown IT Park. CPVDC is studying the development of the remaining undeveloped portion of the property.
The Asiatown has more than 13,000 total employees whish are expected to grow when the new additional buildings finally starts operations.
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