Connect with us

Hi, what are you looking for?

News

Johndorf Tower to be completed by Q2 2023

A NEW office tower with a Leadership in Energy and Environmental Design (LEED) Gold certification is on track for completion by the second quarter of 2023 in Cebu City.

The 21-storey Johndorf Tower is already seeing pre-commitments from locators months ahead of its completion in the second quarter.

Located along Mindanao Avenue in Cebu Business Park, the office tower is accredited by the Philippine Economic Zone Authority and LEED Gold certified by the US Green Building Council.

Johndorf Tower is developed by Johndorf Ventures Corp., and represented by exclusive leasing agent Leechiu Property Consultants (LPC).

“We are confident Johndorf Tower will be among the most attractive IT-BPM locations in Cebu City in 2023 and that its developer will reap the benefits of great business timing,” Bobby Apas, LPC commercial leasing senior manager, said in a statement.

The building has a typical floor plate of 1,427 square meters (sq.m.). It has 5 passenger elevators, high ceilings and a modern air-conditioning system.

Mr. Apas said that Cebu City has seen its economy rebound from the pandemic and is now “on the road to recovery.”

As of November, office demand in Cebu has surged to 68,451 sq.m., from 16,683 sq.m. demand seen for the entire 2021.

“More transactions expected to be completed before the end of the year,” LPC said.

The bulk or 65% of the demand is from the information technology-business process management (IT-BPM), while serviced offices accounted for 18%.

“Due to its large labor force and dynamic economy, Cebu has been a top choice for IT-BPM firms seeking alternative locations to Metro Manila for almost 15 years now,” Mr. Apas said.

According to LPC, firms in Western economies are “likely” to outsource more jobs to countries like the Philippines and India, similar to what happened during the Global Financial Crisis. — CRAG

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Wayne Janse Van Rensburg, Chief Executive of education company Learndirect talks to Business Matters about the inspiration behind their business, which...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.