Cebu Real Estate News

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Cebu Exchange to Cost Php 8-B

Artha Land Cebu

LISTED green developer ArthaLand Corp. will spend P8 billion for the development of its first green office project outside Luzon called Cebu Exchange in Cebu City.

The project will rise along Salinas Drive, Lahug in front of Cebu IT Park.

“With the continuing market optimism in the Visayas and Mindanao, Arthaland sees robust opportunities, especially in the information technology and business process management sector,” said Angie de Villa-Lacson, president and chief executive officer of Arthaland.

Lacson described Cebu as a premiere city in the south and one of the country’s most progressive cities.

She said that while there are many ways to enter the Visayas and Mindanao corridor, such as residential expansion, company officials think the office sector is their best option.

“The last study that I have seen shows a vacancy of IT Park of less than one percent. That’s very encouraging. If the vacancy is less than one percent, then the future of our project is very important,” said Lacson.

The company launched last Wednesday night the Cebu Exchange in Radisson Blu Hotel Cebu.

The Grade-A office will be built in an area over 8,000 square meters, with an 87,000-square-meter leasable area. The 38-storey office building will house four floors of retail outlets and 30 large-cut flexible office floors.

The development of the office building is divided into two phases, of which the first phase will be completed by 2020 and the second phase by 2022.

Known as a green real estate developer, Lacson said the company is in the process of getting dual green building certifications under the US Green Building Council’s LEED program and the Philippine Green Building Council’s Berde certification programs for Cebu Exchange.

To ensure resource efficiency for the building’s locators, the BPO tower will feature green elements such as efficient building envelope, water efficient plumbing system, low-energy consuming air-conditioning system, efficient lighting system, use of low-emitting materials, and allocation for low emitting an fuel efficient vehicle parking.

Arthaland is also in the process of securing a certification from the Philippine Economic Zone Authority for Cebu Exchange to be declared an accredited IT building.

The company has no other properties in Cebu yet, Lacson said the company is eager to pursue projects that are sustainable.

“We are a boutique company. We don’t go for market share. We go for projects that are special, projects that are sustainable, meaning green and world-class,” she said.

ArthaLand’s major shareholder is CPG Holdings Inc., a parent company of Century Pacific Food Inc., one of the leading players in Philippine canned food.

By KATLENE O. CACHO | Sun Star Daily | October 28, 2016
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