AYALA LAND targets eBloc 2 completion by end of 2011

CEBU, Philippines - Ayala Land Inc., in partnership with Cebu Property Ventures Development Corporation (CPVDC), is set to complete the P1.4 billion eBloc 2 project at the Cebu Asiatown IT Park by end of 2011.

This early, CPVDC president Francis Monera said the 16-story BPO (Business Process Outsourcing) building has already attracted big names in the ICT and BPO companies around the world.

The opening of the eBloc 2 towards the end of next year is seen to provide ample opportunity for employment in Cebu at the same time providing good revenue generation for the City.

The eBloc 2 construction will start the development of the idle five-hectare property, which was originally master-planned by CPVDC to be developed into a BPO enclave.

Simultaneously, the Ayala Group will also build an office-condominium building adjacent to eBloc2 called Avida within the area.

ALI president Antonino T. Aquino said the company will replicate what it’s done in Makati City and Bonifacio Global City with its allocated investments of at least P10 billion in the next five years.

The eBloc2 will be developed by Asian i-Office Properties Inc. a special purpose vehicle created through the contribution of investments from CPVDC and ALI to address the increasing demand of office space in Cebu.

This project is a sequel to the successful eBloc Tower completed in 2009.

The building sits on a 4,383-square meter lot with a gross floor area of 34,762 square meters. Over 26,500 square-meters of which will be available for the BPO, IT and ITES business locators.

This new building will have a substantial retail provision with landscaped storefront at the ground floor to cater to the needs of BPO workers 24/7.

In addition, six floors with open-air podiums are allotted for parking space which can accommodate 440 parking slots.

The eBloc1 is now the home of international financial firm JP Morgan, and other big names in the ICT and BPO sector.

According to Aquino the Ayala Group will continue to build more complementary facilities such office-condominium and high-rise BPO buildings in the five years, not only in Asia Town IT Park, but also to its newly proclaimed IT Park the 50-hectare Cebu Business Park (CBP).

Aquino said the group has strong confidence on the effective positioning of Cebu as a prime investment hub for BPO and ICT, thus providing dynamic economic activity here, of which growth rate is faster that the national figure.

By Ehda M. Dagooc (The Freeman) Updated June 10, 2010 12:00 AM/ http://www.philstar .com/Article. aspx?articleId= 582963&publicationSubCateg oryId=108