Wednesday, April 23, 2008 [ philstar.com ]
Offshoring and outsourcing locator-companies at the Megaworld-developed Eastwood City registered $228.09 million in export revenues last year, 21 percent higher than the previous year’s $188.5 million, according to data from the Philippine Economic Zone Authority (PEZA).
This makes Eastwood City Cyberpark still the top dollar earner among all the 70 IT special economic zones throughout the country, PEZA said.
In terms of employment, Eastwood locator firms provided jobs to an average of 12,515 individuals who received a total of P4.4 billion in salaries and wages last year.
“Megaworld is delighted that our visionary project continues to serve its purpose of becoming a leading catalyst in the development of the country’s BPO sector and is now a major contributor in the Philippine economy,” said Jericho Go, Megaworld first vice president for business development.
According to the PEZA website, 36 companies perform various BPO works in Eastwood City Cyberpark. Among Eastwood City’s prominent BPO locators are multinational companies IBM, Citibank, Siemens, Dell and eTelecare.
Since Eastwood Cyberpark is a PEZA-accredited IT park, these companies are receiving incentives from the government, including income tax holidays and the option to pay five-percent gross income tax in lieu of all taxes.
Quezon City Mayor Feliciano “Sonny” Belmonte has earlier forecast that companies based at the Eastwood City Cyberpark will register combined export revenues of at least $1 billion by 2010.
PEZA expects the BPO sector, as a whole, to generate $12 billion in revenues by 2010.
Eastwood City is a 16-hectare state-of-the-art residential, business commercial and entertainment city development of upscale property developer Megaworld Corp.
The city is popularly referred to as the country’s ICT capital and has been ranked seventh among the Top 10 Asian Cities of the Future in a survey commissioned by The Financial Times of London.
To take advantage of the continued strong demand for office and residential space, Megaworld is constructing a new building, Global One Center, specifically targeting BPO operators, and for residential purposes.
The 27-story Global One Center will rise at Eastwood City’s new Palm District and have 42,000 square meters of prime office space upon completion in 2009. It is expected to boost Megaworld’s recurring lease income once it becomes fully operational.
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