by Jenniffer B. Austria
[ manilastandardtoday.com ] December 8, 2011
Filinvest Land Inc., the listed property unit of the Gotianun family, plans to build one of the biggest office portfolios in the country, as it remains bullish on the business process outsourcing industry.
Filinvest Land said in a disclosure to the stock exchange it had lined up new BPO buildings that would boost its leasable office space to 258,000 square meters by early 2014.
“Filinvest Land remains very bullish on the BPO sector and is rapidly expanding its office portfolio to meet the needs of the industry,” the company said.
The company recently completed the construction of its latest BPO office building at Northgate Cyberzone in Filinvest Corporate City, Alabang.
Vector Two, the company’s 12th BPO building at the Northgate Cyberzone, is being turned over for tenant fit-outs and is expected to start contributing to revenues starting in January 2012.
The building offers close to 18,000 square meters of office space and is now 90 percent leased out.
Meanwhile, the property company broke ground on its 13th office building at Northgate Cyberzone, which will add another 20,000 square meters of office space.
The 20-story building is slated for completion in 2013.
Filinvest Land is also finalizing plans for Plaz@ E, which will be located at the northernmost section of Northgate Cyberzone.
Plaz@ E will have 9 floors of office space and three floors of above-ground parking, with a gross leasable area of around 13,000 square meters. The BPO building is expected to be completed by late 2013 or early 2014.
Another five-story Filinvest Building along Edsa in Mandaluyong is in full swing.
The 10,000-square meter building is scheduled for completion before the end of 2012.
The company also has 3,500 square meters of office space in its Grand Cenia Condotel and Residences, across the Cebu Business Park in Cebu City.