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| Property developer to build IT park on old IS site |
| Wednesday, 21 March 2007 15:17 | ||||||
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Developments are set to start by the second quarter of the year. In a statement sent to the media, Century Properties said that aside from the IT park, the project will also include residential and commercial developments, as well as a high-end motel. Century Properties, which won the bidding for the property in June 2006, said it will build a minimum of 160,000 square meters of Grade A office space on the land. "There's always a premium for Makati locations. This is the largest available property for development of contiguous land, and it's very rare that you can find a space that opens up like that, that you can essentially plan from scratch," Century Properties managing director Marco Antonio said. The IT park will cater to the business process outsourcing sector, particularly the high-end BPOs, “who are willing to pay premium rates for a good location and something of this caliber," he added. “We are currently applying for Philippine Economic Zone Authority (PEZA) accreditation and will most likely exceed the minimum requirement of one hectare for the IT park. We feel that we are poised to deliver products by 2008 or early 2009 for the first batch of office buildings," he said. The firm said it also plans to set up an IT school in the area.-GMANews.TV
Tags: accreditation particularly development essentially outsourcing properties requirement buildings contiguous gmanews.tv
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