Office take-up in Cebu seen to sustain growth
Boutique developer ArthaLand foresees a robust demand for Cebu offices, with the business process outsourcing (BPO) sector still a key driver. Executive vice president and treasurer Leo Po said in a media briefing on the firm’s Cebu Exchange project on Tuesday that the low vacancy rate in Cebu’s office sector indicates a sustained demand. Chris Narciso, executive vice president for business development, also said office space take-up in Cebu will remain strong as long as the province continues to thrive economically and to have good infrastructure. Narciso said infrastructure development will play a major role in sustaining Cebu’s property sector expansion. ArthaLand is constructing its 38-story Cebu Exchange, an office building development on Salinas Drive in Cebu City. The building is designed to accommodate information technology and BPO locators. It is set to be completed by 2021.
