Vol. XXI, No. 241 [ BusinessWorld Online ]
Wednesday, July 9, 2008 | MANILA, PHILIPPINES
CEBU CITY — Aboitizland, Inc. has started building a five-storey commercial corporate building for business process outsourcing (BPO) companies.
The iMEZ, which will rise inside the Mactan Economic Zone 2 (MEZ-2), is estimated to cost P160 million and targeted to be completed by March 2009, Aboitizland President Andoni F. Aboitiz said.
He said they were talking with five prospective locators, all foreign BPO companies. The new building will have a gross leasable area of 5,000 square meters.
"We’re trying to attract not just the call centers, but the real BPOs," Mr. Aboitiz said. Since the structure is within the Mactan economic zone, locators will automatically enjoy tax incentives, he added.
The new building is within the Pueblo Verde commercial block. Its ground floor will be leased to retail shops and dining outlets that will complement retail establishments in the area.
The Mactan Economic Zone 2 is a 63-hectare economic zone developed and operated by Aboitizland — the real estate arm of the Aboitiz Group — under a build-operate-transfer scheme for landowner Mactan Cebu International Airport Authority. It has 48 locators that employ about 18,000 workers.
Although Aboitizland considers the zone a success, Mr. Aboitiz said there are no plans to replicate this in other areas since the Philippines is losing manufacturing investments to China and Vietnam.
Aboitizland also co-owns with Tsuneishi Holdings, Inc. the Cebu Industrial Park Developers, Inc., which developed and operates the West Cebu Industrial Park in Balamban town in Western Cebu.
Meanwhile, Aboitizland will be launching the third phase of Kishanta subdivision in Southern Cebu. Mr. Aboitiz said the new phase will rise on an adjoining 12-hectare property.
"The first two phases have been mostly sold out," he said. The 16-hectare subdivision offers lot-only properties and house and lot packages.
By the third quarter, the subdivision would be ready for house construction, Mr. Aboitiz said.
The road network has been completed and power and water supply will be installed before the quarter ends.
The company will soon start greening activities for the subdivision — planting hardwoods and aromatic trees.
This is to fulfill the nature-oriented design of the subdivision," he added.
Work is also ongoing on four house-and-lot units that will be ready for occupancy by September. — Marites S. Villamor
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