Cebu developer announces billion-peso office building

Local real estate firm Cebu Landmasters Inc (CLI) has announced its latest project in Cebu, the billion-peso Latitude Corporate Center at the Cebu Business Park. Positioned to become the tallest building inside the Ayala development, standing 24 storeys high, Latitude Corporate Center will be home to corporate and business process outsourcing (BPO) offices by the last quarter of 2019, the target date of completion. The project was announced in the wake of ongoing concerns about BPO firms moving out of the Philippines following Donald Trump’s election as US president. Jose Soberano III, chairman and chief executive officer of CLI expressed confidence that many BPO companies will remain interested to locate in the Philippines because the country’s real estate values remain the cheapest in Asia.

Shares