PHP1.5-billion building to cater to Cebu’s BPO locators

A new 24-story building is set to rise at the Cebu Business Park to cater to business process outsourcing (BPO) tenants as well as to enterprise and executive tenants. Cebu-based real estate developer Cebu Landmasters Inc. (CLI) is allocating PHP1.5bn for the construction of The Latitude Corporate Center, a 50-50 joint venture between CLI and Borromeo Bros. Estate. It will have a gross floor area of 35,000 square meters. Eighty percent of the office spaces will be leased while 20 percent will be sold as office condominiums, said CLI chief operations officer Franco Soberano. The project has already sold 83 percent of its inventory, according to the company.