MANILA–Homegrown and full-line real estate developer Innoland has expanded to Metro Manila, pouring in P5.5 billion for the development of three corporate towers in Alabang, Muntinlupa City.
The company behind TGU Tower and Calyx Center in Cebu IT Park broke ground yesterday for a 16-storey office tower Capell; topped off the 19-storey Polaris, and held a blessing ceremony for another 19-storey building, the Aeon Center. All these projects are in Alabang, within the Filinvest Corporate City, occupying about one hectare.
“(We expanded to Metro Manila) because we’ve seen the growth potential of the city and the long-term benefits of it,” said Innoland and affiliates chief operating officer Charles Ong, in an interview with reporters yesterday, citing the contribution of the robust business process outsourcing (BPO) industry in Metro Manila today.
The Aeon Center is 80 percent leased out, while Polaris is a built-to-suit building for Flour Philippines, a construction and engineering firm.
Capella, meanwhile, has been attracting interest from multinational BPO companies, according to Ong.
The building scheduled for completion by the end of 2016.
The company’s COO also disclosed that it is considering the possibility of venturing into industrial development, similar to that Teradyne’s facility, an industrial project inside the Cebu Light Industrial Park(CLIP) in Lapu-Lapu City. ”
“There’s a lot of complementary business that we can venture into when we are here. (This means), once we establish a good foothold in Manila, we can venture into industrial types of projects. There are lots of opportunities happening around and we want to be part of it,” Ong said.
To support this, the official said the company has sufficient lands to cater its future developments. Some of these are in Alabang while others are in the key districts of Metro Manila.
Within the year, Innoland is scheduled to launch a commercial/BPO tower within Metro Manila. Innoland’s projects in Manila, like the Aeon Center, have already been LEED-certified. The remaining projects are to be certified as well. Having LED(Leadership in Energy and Environmental Design) certification means a structure has adopted green technology in the areas of construction, design, operation, and maintenance.
Company officials said they are committed to develop green projects across all its developments. Wilson Granados, Innoland and affiliates vice president external for sales and marketing, said that although its Cebu projects are not LEED-certified, it has adopted green technology across all phases.
As prospects for construction and real estate remain rosy for the Philippines, Innoland officials assured they will continue to supply the market, not just with projects, but green-anchored developments as well.
Published by: Sunstar Cebu