Manila. Philippines—Filinvest Land Inc. has bagged a trade to redevelop a 1. 2-hectare belongings owned by the authorities that was the site of the old Cebu City gaol on Salinas Drive in Lahug to turn it into a concern procedure outsourcing complex. In a revelation to the Philippine Stock Exchange on Tuesday. the belongings developer announced that it had submitted the winning build-transfer-operate proposal and complied with the demands contained in the notice of award from the Economic Enterprise Council under the Office of the Governor of the Province of Cebu.
The batch used to be occupied by the Bagong Buhay Rehabilitation Center and the Cebu City Treatment and Rehabilitation Center. “FLI remains bullish on the BPO sector and is quickly spread outing its office portfolio to run into the demands of the industry. ” the revelation said. “FLI believes that Cebu. in peculiar. has good potency for this concern. ” This represents an enlargement of FLI’s involvement in Cebu. It is presently developing the 50. 6-hectare Citta di Mare in the South Road Properties.
Two mid-rise edifice undertakings. Amalfi Oasis and San Remo Oasis. are besides presently being constructed under a joint venture with the Cebu City Government. Land development works on the Il Corso lifestyle strip are similarly on-going. Other on-going undertakings of FLI include One Oasis Cebu. a 3. 7 hectare mid-rise development with a sum of 10 edifices next to the Cebu Golf and Country Club. Two edifices have been completed and a 3rd is targeted for completion by year-end.
Finally. FLI’s Grand Cenia Hotel and Residences condotel has late started operations as Quest Hotel and Conference Center. a three-star hotel complete with concern and conference installations. The Cebu undertaking besides scales up FLI’s BPO portfolio. As of the terminal of 2011. it had over 170. 000 square metres of gross leasable country ( GLA ) from 12 edifices in Northgate Cyberzone in Filinvest Corporate City in Muntinlupa City and PBCom Tower in Makati City.
At Northgate Cyberzone. another edifice is presently under building and will add near to 20. 000 square metres of GLA in the first half of 2013. while a 14th edifice is targeted to interrupt land within the twelvemonth with a GLA of 13. 000 square metres. Vector Two. which was completed in the 4th one-fourth of 2011. is to the full taken-up and has been turned over for tenant fit-outs. the revelation said. Meanwhile. FLI is building a five-storey edifice along EDSA across the Asian Development Bank edifice which is expected to be completed within 2012.