By: Eden Lorren Pabalan
Cebu is a known province in Visayas, with the prominent Cebu Island and
167 sorrounding islands and one of the most progressive provinces in the
Philippines. As time passes by, Cebu has become home to different
foreign and local companies such as Norkis Group of Companies, Lexmark
Philippines, Lhuillier Philippines, among many others. BPO companies have also expanded their
boarders to the shores of Cebu. Its 225 kilometer stretch from north to
south has also a vast number of white sand beaches, limestone plateaus,
and coastal plains and now, with call centers and other BPO buildings in
between.
As economic growth boosts in Cebu, more and more
foreign investors are also occupying the land. Cebu is now more than
just a province having the oldest city of the Philippines, Mactan's
Cross, and being the seventh best island destination in the Indian
Ocean-Asia region. It has now become a growing second to Manila in terms
of real estate in the Philippines.
Real estate
giants like Megaworld Corporation, Sm Development Corporation, and
AyalaLand have already noticed the gold mine in investing in Cebu. Other
companies doing business in
the Philippines have stationed satellite offices in Lapu-Lapu's
land, making it a fertile soil for business ventures for investors and
an opportunity of more jobs for Filipinos.
SM Development
Corporation recently inked a 20 billion pesos real estate project in
Cebu. They will be developing a 30 hectare land into a prime office
space and residential complex and construct an SM mall which will
be one of the 10 largest malls in the world with 250,000 square meters
of land area. On the other hand, AyalaLand invested in developing
residential properties, one which is Amara, a high end seaside
residential community.
Megaworld Corporation also sees Cebu
as a prime investment but they are focusing on building a 25-hectare BPO
hub near Shangri-la Hotel Mactan. They foresee Cebu as an emerging
outsourcing destination in the Philippines.
Meanwhile, call
centers and BPO companies have also established in the region. There are
at least 50 call centers which are doing business in the area and more
BPO investors are coming in. International BPO companies like Aegis
PeopleSupport, Convergys, eTelecare, and ICT Group have offices in Cebu,
providing thousands of recruitment oportunities for
Cebuanos.
These developments are paving way for Cebu to be
the next Metro Manila of the Philippines, and for the growth of Cebu
province.
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