Filinvest boosts BPO office portfolio
MANILA, Philippines - Filinvest Land Inc. said its newest BPO office building at Northgate Cyberzone in Filinvest Corporate City will be completed by the end of the year.
The AZ Building, which has close to 20,000 square meters, will be turned over to tenants in the first quarter of 2013 for fit-out. Even before it is completed, the building is more than 70% taken-up.
Filinvest Land is aiming to double the gross leasable area (GLA) of its BPO office buildings by 2015 from its end-2011 level.
The Gotianun family-led property developer is constructing three other BPO buildings in Northgate Cyberzone, namely Plaz@ E and AZ Twin 1 and 2.
Plaz@ E is expected to be completed by the fourth quarter of 2013, while the AZ Twin buildings broke ground last month.
The company also said Filinvest Building, located along EDSA, Mandaluyong City, has already been completed and turned over to tenants for fit-out. Filinvest will begin getting revenues from the building in December 2012.
Filinvest said its BPO office buildings at Northgate Cyberzone are 100% occupied, while its office portfolio in PBCom Tower in Makati City had an occupancy rate of 98%.
At the same time, Filinvest is constructing its first BPO building at the Filinvest Cebu Cyberzone, its joint venture project with the Cebu provincial government.