Capitol-FLI venture gets Peza-certified
Filinvest Cebu Cyberzone expected to initially generate 4,000 jobs
THE joint venture project between the Province of Cebu and a private developer operated by the Gotianun family of Cebu in Barangay Apas has been certified as an “Information Technology Center” by the Philippine Economic Zone Authority (Peza).
The Peza board of directors approved a resolution during its meeting last Aug. 9 to grant the 1.23-hectare project named “Filinvest Cebu Cyberzone” the status of an IT center, providing incentives to firms registered with Peza that would locate there.
Filinvest Land, Inc. (FLI), the developer, received the official notice of approval last Friday.
Under the build-transfer-operate or BTO agreement sealed after a public bidding that FLI won in February 2012, the company is committed to build the BPO complex and operate it after transfer for 25 years.
Rental
FLI is obliged to pay the province a monthly rental of P50 per square meter over the land of 12,290-sqm. FLI, through Cyberzone Properties, Inc. (CPI) that it had assigned for the project, has so far paid the province P15.25 million over the past 18 months.
Once operational, FLI and CPI have also guaranteed the province an additional P500,000 a month as share from revenues, an amount that would increase if two percent from revenues goes beyond the guaranteed amount.
“With investments reaching up to P6 billion, CPI is committed to provide a sustainable mixed-use project comprised of four towers,” the company said in a statement released yesterday.
“The four towers will include BPO offices, commercial spaces, and possibly a hotel that are complementary to each other and will enhance business activity and property values of the Province of Cebu and the adjacent barangay in Cebu City,” it said.
CPI disclosed that residents of Apas and Lahug are given priority for employment during the construction and operation of the building complex, followed by residents in nearby barangays as Barrio Luz, Banilad, Busay, Camputhaw, Kasambagan and Mabolo.
FLI general manager Allan G. Alfon said the ongoing construction of Tower 1 and half of the podium levels employs more than 500 skilled and unskilled labor.
Filinvest Cebu Cyberzone is expected to initially generate at least 4,000 jobs at Tower 1, increasing gradually to some 20,000 jobs in the next five years through locating BPO companies, he said.
Alfon also said current tenants of Filinvest at Northgate Cyberzone, Filinvest City in Alabang, Muntinlupa, including HSBC and Genpact, Convergys, have expressed interest to expand their operations in Cebu and locate at the Apas site.
When Tower 1 is completed later this year, it will have 92,981 square meters in leasable area, he said.
As part of its commitment to provide international standard facilities, CPI integrated into its development a 24-hour electricity and backup supply, high-speed fiber optic telecommunications backbone and high speed international gateway facility or wide area network.
Features
Filinvest Cebu Cyberzone will have a complete security and building monitoring system, high speed elevators, centralized cooling system, and ample parking for its office and commercial tenants, employees, and clients.
In terms of environmental sustainability, the project has plans for proper sewerage and sanitation for its liquid and solid wastes. A tank will collect rainwater and help mitigate releases into the drainage system so as not to contribute to the possible flooding in the lower areas of the city, the company added.