Left to Right: Filinvest Land Executive Vice President and Chief Strategy Officer Tristan Las Marias, Cebu Board Member Glenn Anthony Soco, Cebu Gov. Gwen Garcia, Filinvest Land President and CEO and Filinvest REIT Chairwoman Josephine Gotianun Yap, Filinvest REIT President Maricel Brion Lirio, Cebu Board Member Christopher Baricuatro, and Cebu Board Member Victoria Toribio | Text and Photo by Filinvest Land Inc.
CEBU CITY, Philippines – The completion of Filinvest’s Cyberzone in Cebu is expected to generate additional jobs here.
Filinvest Land Inc. (FLI) and the Cebu Provincial Government formally marked the completion of Towers 1 and 2 of Filinvest Cyberzone Cebu in Barangay Apas, Cebu City during the unveiling of its commemorative marker last Wednesday, April 20.
“Filinvest Cyberzone Cebu is one of our biggest investments in the province. Through this development, we aim to provide world-class office spaces to empower global and local businesses to thrive in Cebu. We are ever grateful for the support of our joint venture partner the Province of Cebu led by Gov. Gwen Garcia,” said FLI President and CEO Josephine Gotianun Yap.
With the completion of Towers 1 and 2, FLI, the real estate arm of the Filinvest Group, said they will proceed in completing the remaining two office buildings for Filinvest Cyberzone Cebu.
Towers 3 and 4 will occupy a total combined area of roughly 43,500 square meters, both for office and retail. Developers are targeting for these to be completed by 2023.
Once operational, they can bring in additional 22,000 new jobs here in Cebu, said Filinvest REIT President Maricel Brion Lirio.
“We are proud to say that through Filinvest Cyberzone Cebu Towers 1 and 2, approximately 29,000 new jobs were created,” Lirio said.
“While for the upcoming Towers 3 and 4, we expect to generate approximately 21,000 new jobs from the office spaces alone. Our retail spaces are expected to add another 1,000 jobs,” she added.
The Capitol, for its part, said the completion of Filinvest Cyberzone Cebu would not only bring in additional revenues but would also boost its multi-billion peso asset by up to P4 billion.
“Once these two towers (Towers 3 and 4) are completed, these will add up the total assets of the province. This is a very unique endeavor and partnership for the province and Filinvest,” said Gov. Gwendolyn Garcia.
“We were put together at the right time for the right reasons. And this is the right reason, a mutually beneficial partnership with Filinvest that can only mean more revenues for the Province of Cebu, added assets for the province of Cebu, and, together with Filinvest, give more opportunities for progress and development of our beloved Province of Cebu,” she added.
Cebu is the country’s wealthiest province, with assets amounting to P200 billion.
Filinvest Cyberzone Cebu is a 1.2-hectare commercial development and is a joint venture between FLI and the Provincial Government.
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