Posted on September 27, 2011 10:50:38 PM [ BusinessWorld Online ]
ETON PROPERTIES Philippines, Inc. will complete two more office buildings at a Quezon City complex by late 2012, the Lucio C. Tan-led developer said in a statement.
This, after the first two buildings erected for outsourcing firms have reportedly been fully leased out.
Eton Properties said that the additional two buildings, which are expected to be up by fourth quarter next year, is in response to the increasing office space demand from business process outsourcing (BPO) companies.
“The third and fourth Cyberpod Centris buildings [in Quezon City] are at the design stage and are scheduled to be completed by end of 2012,” Danilo E. Ignacio, the firm’s president and COO said in a statement, adding that the buildings are expected to be pre-leased even before turnover.
“If demand continues to grow, we can add more buildings to the project,” Mr. Ignacio said in a separate press briefing, adding that the original Centris master plan envisions seven BPO buildings.
“If the market for office space continues to be strong, we are considering some adjustments in the Eton Centris master plan to accommodate future demand for office space,” Mr. Ignacio said.
“There is a marked increase in demand for office space in the northern part of Metro Manila, given the outsourcing industry’s thrust to tap the manpower pool in the area,” he said.
The firm recorded a 10% profit increase to P417.9 million in the first semester over year-ago levels. -- CHCV
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