Cebu Exchange to generate 10,000 jobs
A new property development along Salinas Drive in Lahug, Cebu City, is expected to create 10,000 jobs with the growth of the IT industry in the city. Cebu Exchange, the PHP8bn (USD153m), 39-storey structure developed by Arthaland and set to be finished in mid-2021, will feature office units, retail space, and parking slots. Arthaland president Jaime Gonzalez said they built Cebu Exchange to take advantage of the economic growth in Cebu. Gonzalez said 60% of the property is already sold, as there is a high demand for newer developments that feature new technology. Executive vice-president Chris Narciso said the majority of the tenants are from business process outsourcing (BPO), knowledge process outsourcing, and some other local businesses. Narciso added that they expect around 10,000 potential employees to work in the development once it is fully operational. Gonzalez said they plan to build more projects in Cebu in the future.