JDC to invest over P1B in BPO-ready, Cebu green building

Property developer JEG Development Corp. on Wednesday said it is set to spend over P1 billion on the development of JEG Tower, its flagship green building .

Chief operating officer Marko Sarmiento said the company is set to spend some P40,000 per square meter on the development of its tower.

“We’re looking at around P40,000 per square meter ... P40,000 to P43,000 per square meter (development costs),” he told reporters in Makati City.

With a total of 26,000 square meters of construction floor area, this is equivalent to a total development cost of  more than P1 billion. 

The company is banking on the JEG Tower, a LEED-certified (Leadership in Energy and Environmental Design) 22-story green building in Cebu City, to translate into savings in administrative expenses.

“We believe that starting with the JEG Tower @ One Acacia, we can reduce operating costs through its efficient resource management. It would also result in increased worker productivity and an overall positive impact on the health and well-being of our prospective occupants,” Sarmiento said.

“The building will be completed by the first quarter of next year and we should be topping off next month,” he said.

Prospective tenants have already made commitments, but the processing of lease agreements will come once the construction has been completed and spaces ready to accommodate players in the business process outsourcing (BPO) industry.

“We’re at the finishing stage already. It will be BPO ready. Initially, we wanted corporate offices, KPOs (knowledge process outsourcing), but it is BPO ready. It’s built for BPOs,” Sarmiento noted.

The company is in the process of securing accreditation from the Philippine Economic Zone Authority (PEZA) for tax incentives. “It’s ongoing, PEZA registration is ongoing. We will be getting ready.”

“We are invested in Cebu’s future and we want to contribute to that growth and grow along with it,” Sarmiento said. —VDS, GMA News