Firm Constructs R1-B IT Building

CEBU CITY, Cebu - Construction has started for another information technology (IT) building at the Cebu IT Park, a project by the Ayala-led Cebu Property Ventures and Development Inc. (CPVDC) and Asian i-Office Properties Inc. (AIO) pegged at a total cost of P1 billion.

CPVDC and AIO broke grounds recently for the construction of e-Bloc Tower 3, encouraged by the strong market response to e-Bloc Towers 1 and 2 also at the Cebu IT Park.

"The construction of e-Bloc 3 is a manifestation of our strong commitment to makeCebu IT Park a preferred BPO/IT destination in the country," said Ayala Land Inc. (ALI) President Antonino Aquino.

EBloc 3 is a 12-story office building with a total of 15,764 square meters leasable area. Tower 3 is the third installment to the e-Bloc Towers built as locations for BPOs, information technology and information technology-enabled services business locators.

CPVDC President Francis O. Monera also said the quick take-up of spaces in Towers 1 and 2 has prompted them to launch another office building.

CPVDC and AIO constructed e-Bloc 1, which now houses J.P Morgan Chase and Co. and NCR Philippines. Following that, they built e-Bloc 2, which is still under construction but already 80 percent leased to BPO-IT companies with growing operations.

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Firm Constructs R1-B IT Building