Filinvest Land unveiled a new marker to commemorate its fruitful partnership with the Province of Cebu for the prime office development Filinvest Cyberzone Cebu in Lahug. Province of Cebu Governor Gwen Garcia joined Filinvest Land President and CEO Josephine Gotianun Yap, Chief Strategy Officer Tristan Las Marias, and Filinvest REIT President Maricel Brion Lirio for the unveiling ceremony.
“We were put together at the right time for the right reasons. And this is the right reason, a mutually beneficial partnership with Filinvest that can only mean more revenues for the Province of Cebu, added assets for the province of Cebu and, together with Filinvest, give more opportunities for progress and development of our beloved Province of Cebu,” said Gov. Garcia.
The unveiling ceremony was held at Tower Two of Filinvest Cyberzone Cebu attended by other provincial government officials and key executives of Filinvest Land. Filinvest Cyberzone Cebu is a 1.2 hectare PEZA-accredited, 4-tower modern office development designed to cater to blue chip companies. It was recently given a Grade A rating by Jones Lang La Salle. Notably, Filinvest Cyberzone Cebu remained operational 24/7 during Typhoon Odette’s onslaught.
“Filinvest Cyberzone Cebu is one of our biggest investments in the province. Through this development, we aim to provide world-class office spaces to empower global and local businesses to thrive in Cebu. We are ever grateful for the support of our joint venture partner the Province of Cebu led by Gov. Gwen Garcia,” said Gotianun Yap.
“Filinvest has always strived to be the province’s partner in progress. This marker is testament to the strength of the partnership between Filinvest Land and the Province of Cebu,” added Las Marias.
Filinvest Cyberzone Cebu is a joint venture commercial development between Filinvest and the Cebu Provincial Government. The completed towers 1 and 2 have a combined gross leasable area of 48,233 squaremeters of office space and 1,307 squaremeters of retail space. The remaining towers 3 and 4 set for completion in 2023 have a combined gross leasable area of 38,718 squaremeters of office space and 5,471 squaremeters of retail space.
“We are proud to say that through Filinvest Cyberzone Cebu Towers 1 and 2, approximately 29,000 new jobs were created while for the upcoming Towers 3 and 4, we expect to generate approximately 21,000 new jobs from the office spaces alone. Our retail spaces are expected to add another 1,000 jobs,” said Brion Lirio.
The first tower of Filinvest Cyberzone Cebu is part of the portfolio of Filinvest REIT Corporation (FILRT), the real estate investment trust of the Filinvest group. Listed in the Philippine Stock Exchange, FILRT’s portfolio consists of 17 Grade A office buildings totaling over 300,000 square meters of gross leasable area.
“We expect that the easing restrictions for COVID-19, return-to-work policies, and the untiring support of the provincial government of Cebu will boost the resurgence of the province’s BPO office industry. We are proud to have seen an increase in occupancy for Filinvest Cyberzone Cebu after Typhoon Odette and we expect this trend to continue for the rest of 2022,” said Brion Lirio.
Filinvest REIT Corp. is backed by one of the country’s largest developers, Filinvest Land. Filinvest Land has been a part of Cebu for decades with 14 projects across the province. Filinvest Cyberzone Cebu is part of the developer’s extensive portfolio nationwide with over 250 projects in over 50 key areas nationwide. A steadfast partner of the province, Filinvest Land donated vaccine doses, medical supplies, and equipment to various cities of Cebu province. Filinvest Land also conducted relief operations which included distribution of relief goods and clean potable water for Typhoon Odette victims through its Pusong Filinvest program.