New office tower in Cebu looks to attract IT-BPM firms
A new office building set to open in Cebu City’s business district in the second quarter of 2023 is projected to house information technology business process management (IT-BPM) firms.
Johndorf Tower, a 21-storey Leadership in Energy and Environmental Design (LEED) Gold-certified development, is also accredited by the Philippine Economic Zone Authority (PEZA), making it an ideal location for IT-BPM firms.
“We are confident Johndorf Tower will be among the most attractive IT-BPM locations in Cebu City in 2023 and that its developer will reap the benefits of great business timing,” Bobby Apas, LPC commercial leasing senior manager, said in a statement.
Apas said that Cebu City has seen its economy rebound from the pandemic and is now “on the road to recovery.”
According to Johndorf Ventures Corp.’s exclusive leasing agent Leechiu Property Consultants (LPC) office demand in Cebu has surged to 68,451 sq.m., from 16,683 sq.m. demand seen for the entire 2021.
LPC also noted that more transactions are expected to be closed before 2022 ends.
“Due to its large labor force and dynamic economy, Cebu has been a top choice for IT-BPM firms seeking alternative locations to Metro Manila for almost 15 years now,” Apas said.
According to LPC, firms in Western economies are “likely” to outsource more jobs to countries like the Philippines and India, similar to what happened during the Global Financial Crisis.
