(Source: Business Mirror | March 19, 2018)
Araneta Center Inc., the operator of one of the country’s first mixed-use property in Cubao in Quezon City, has topped off its 31-story office tower that will cater mostly to business-process outsourcing (BPO) sector.
Cyberpark 2, a Philippine Economic Zone Authority (Peza)-registered facility will be completed by July this year and is the second building to rise within the ecozone called Araneta Center Cyberpark.
The building has 91,000 square meters (sq m) of gross floor area, and half of the available space is already pre-leased by a BPO firm, Antonio T. Mardo, Araneta Center senior vice president for operations, said on Monday.
“Our occupants can start constructing their office in July, and we can operate by October this year,” Mardo said, adding that the company spent some P3 billion to construct the building.
“The BPO sector is expected to continue its growth trajectory because the Philippines presents an irresistible alternative to companies around the world looking to remain competitive by tapping the talent of Filipinos,” the company said.
Cyberpark 2 comes two years after the opening of Cyberpark 1, which almost has the same number of office space and also caters to the BPO sector.
Cyberpark 2 has 27 floors available for lease as well as two floors of retail shops connected to the Gateway Mall, and three levels of basement parking.
With a total of five office towers being planned, the Araneta Center Cyberpark will have total leasable area of 500,000 sq m covering both commercial and retail space upon completion.
The complex is registered with the Peza, giving its locators tax breaks and other government perks.
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