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Filinvest Land’s BPO building nearly complete

Posted on September 19, 2012 10:18:39 PM [ BusinessWorld Online ]

PROPERTY DEVELOPER Filinvest Land, Inc. is poised to further firm up its ventures in Alabang, Muntinlupa City as its latest business process outsourcing (BPO) office building is expected to be finished by the yearend, the company said in a disclosure to the Philippine Stock Exchange yesterday.

“With a gross leasable area (GLA) of close to 20,000 square meters, AZ Building, located at the corner of Alabang-Zapote Road and Northgate Avenue, is expected to be completed by the end of 2012 and turned over to tenants in the first quarter of 2013 for fit-out. The building, with 10 floors of office space and two levels of basement parking, is more than 70% taken-up already,” the disclosure read.

AZ Building is located in the 10-hectare Northgate Cybzerzone commercial hub, where three other BPO office buildings are being constructed by Filinvest Land: Plaz@ E, which broke ground last July and slated for completion in the fourth quarter of 2013, as well as AZ Twin 1 and 2, which broke ground last month. Upon completion of AZ Building, Plaz@ E, as well as AZ Twin 1 and 2, the number of BPO buildings at Northgate Cyberzone will total 16, from the current 12 in operation, Filinvest Land said.

The company grew its net income by an annual 19.53% to P1.53 billion in the first half. Filinvest Land shares rose 0.76% to P1.33 yesterday from P1.32 last Tuesday. -- F. J. G. de la Fuente            
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