Megaworld BPO Park

Megaworld has announced plans to build another BPO hub in the Central Visayas region.

The BPO park will rise on a 25-hectare complex near Shangri-La’s Mactan Resort and Spa in Mactan, Cebu City. It is a few minutes away from the Mactan-Cebu International Airport, the second largest airport in the Philippines.

The airport enjoys direct international service from foreign cities such as Hong Kong, Singapore, Kota Kinabalu and Kuala Lumpur in Malaysia, Koror in Palau, Kaohsiung, Taipei and Taoyuan in Taiwan, Shanhai-Pudong in China, Busan, Incheon and Seoul in South Korea, Tokyo and Narita in Japan and Doha in Qatar.

Megaworld’s Cebu project will be home to high-tech offices and leisure facilities. Initial development cost is estimated at P2.5 billion.

“Megaworld already owns a part of the Cebu property, and we have plans to acquire the rest of it,” said Megaworld Executive Director Kingson Sian.

render fromLord Carnal

Lexmark Tower and Headquarters

render from Jarenz

Lexmark Research and Development Corp. president Stan Combs said the firm realized it needs more space for its research and development operations.

It is occupying 10 of the 16 floors of Globe Innove building and three floors of Keppel, both located at the Cebu Business Park.

The first building with 8 floors has already topped off.

The second building will be a 22-floor tower with a lower ground floor. Its construction will follow after the completion of the first building.

Construction Update

as of April 28, 2008

photo by Slemarken

Paseo Talisay

New commercial center to rise south of Metro Cebu

A BRAND-NEW five-hectare commercial center is set to start construction in the south of Metro Cebu, the first of its kind to rise in the mostly residential district.

John Paul Chiongbian, president of DevAsia Corp., said the complex, initially called Paseo Talisay, will have a Robinsons Department Store, a nighttime entertainment strip and a night market as its main attractions. Construction is set to start January 2008.

“There will also be call centers and retail outlets, all dedicated for the people of the south,” Chiongbian told BusinessMirror.

“We hope to spur growth in the south. With us paving the way, the net projects should be better and it will only bring good things to the residents of the south,” he said.

The complex will be built right in front of the Talisay City Hall and the Cebu South Coastal Road, giving it superhighway access right into downtown Cebu City and the South Road Properties (SRP).

“Everybody is saying that Talisay is too laid-back to host a commercial center. We do not believe that,” Chiongbian said.

Metro Cebu’s south district—Talisay and Carcar cities and the towns of Minglanilla and Naga, including parts of Cebu City—had long been deprived of commercial development, with all the major malls as well as commercial and business centers all located in the north.

Chiongbian, however, said the inevitable development in the Cebu City-owned 240-hectare SRP would give the south its much-needed break.

“We want to be there when the south explodes with opportunity,” he added.
DevAsia’s foray into the south comes on the heels of its successful establishment of 5,000-square-meter Paseo Cebu in Cebu City’s northern urban tip. Paseo Cebu hosts more than 100 night-market stalls, food outlets and mini bars, altogether sharing a common sitting area and entertainment center.

Chiongbian said during a regular weekend, Paseo Cebu gets around 5,000 patrons. Work is already finishing for Phase 2 of Paseo Cebu.

Article source: Business Mirror

Cebu now top choice for BPO expansion outside Metro Manila

CEBU HAS become the country’s fastest-growing metropolis, being the top choice of business process outsourcing (BPO) companies as an expansion area outside Metro Manila.
While bullish on the Metro Cebu property market, real estate services firm CB Richard Ellis Philippines said economic growth and the environment must be sustained, such as by addressing power supply.

“This growth in Metro Cebu comes with a price. The rapid expansion has led to a strain in the supply of power and potable water in the area,” CB Richard Ellis said in its property market overview.

So far, there has been no significant effect on selling and lease rates for industrial properties and rates are expected to remain stable due to adequate supply.

Major industrial parks mostly in Lapu-Lapu City have maintained lease rates for industrial lots of P20 to P30 per square meter per month.

Meanwhile, the Cebu office market will be fueled by the growth of the BPO sector and traditional businesses.

Since supply in the Cebu Business Park remains tight with only one office building, lease rates are expected to increase within the area, CB Richard Ellis said.

Article source: GMANews.TV