Cebu’s skyline continues to change as the growing office market booms. New developments are expected to augment the growing need for space in the Queen City of the South, according to real estate firm Colliers International.
While still a relatively small market compared to Metro Manila, the Cebu market has grown more than 57 percent in demand since 2013. Such demand is attributable to a combination of both organic growth and the arrival of new BPO & KPO locators.
“In terms of the overall market, Cebu accounts for 9 percent of the total demand, increasing market share by five percent since 2013,” said Dom Andaya, Colliers International’s Associate Director for Office Services, Tenant Representation.
“This is contrary to market perception that the Cebu market has grown to be over-saturated.”
Robinsons Land Corporation looks to take advantage of a continuously growing Cebu Office Market by integrating a 9,000 sqm BPO office space in their flagship development in Robinsons Galleria Cebu (pictured). The 4.7 hectare mixed-use development will consist of a mall, hotel and residential towers.
The availability of the Office Space in the development comes at a time when the Cebu office market is experiencing robust growth. The mall itself is Robinson’s biggest outside of Metro Manila with approximately 158,000 sqm of leasable space. It aims to capture a wide market with its accessibility to residents and tourists coming in from the air and sea ports.
The PEZA proclaimed IT Center for BPO Office Space will be located inside the third and fourth floors of the mall. Locators will have the convenience of having a dedicated office lobby along Osmena Highway ensuring employees will have access to the offices beyond mall hours.
For the BPO locators, Robinsons will provide the VRF AC units inside the leased premises with floors ready to accept carpet tiles, sprinklers and smoke detectors. Locators can also choose to receive the space complete with a fully functional ceiling – a flexibility not offered by most landlords in Cebu.
According to Bryan David, Colliers International Associate Director for Landlord Representation, some landlords in Cebu typically do not provide VRF AC units and floors already ready for carpeting.
“Providing these two features alone already provides significant savings on the Capital Expenditure of locators. Some landlords in Cebu leave it up to the tenants to provide topping on the floor and install their own AC units.”
With a location that provides easy access to employees, retail support through the mall, and a large floor plate for locators to maximize, the Robinsons Galleria Cebu BPO Office Spaces will be ready for turn over by March 2016.
Colliers International, the sole leasing agent for the BPO Office Spaces together with Robinsons Land Corporation said that it looks set to provide a one-stop shop for BPO locators in the area.
