Filinvest unit to build new BPO building

Cyberzone Properties, Inc., the information technology (IT) park development arm of Filinvest Development Corp., is developing another six-storey building in Alabang -- its third in a span of only nine months. Total investments for the building, to be called 5132, is estimated at P350 million. Ground breaking was held last April 10. 5132 will be put up under a "shared funding agreement" with Israel’s largest conglomerate Africa Israel Investments. Africa Israel bought up to 40% of Cyberzone Properties, Inc. in February. Cyberzone Properties’ newest office building has a total leasable area of 9,600 square meters and will rise beside the 6,000-square meter call center facility of Convergys in-side the 18.7-hectare Northgate Cyberzone IT Park in Alabang, south Metropolitan Manila. 5132 is targeted to be completed by first quarter next year, some two months after the completion of Plaz@D by end of this year. Plaz@D is a six-storey, 10,800-square meter office facility. "Two call center companies are now interested for the sole occupancy of Plaz@D. We decided to construct another building so that we will have an inventory for other locators," First Vice-President for Filinvest Alabang Ieyo de Guzman told BusinessWorld in an interview. She said the two call center companies interested in Plaz@D both have existing operations in the country and are set to use the facility for expansion purposes. "This goes to show that existing call center companies are now into rapid expansion," Ms. de Guzman said. Cyberzone Properties has already secured locators for the six-storey, 10,800-square meter Plaz@A, its first office development within the past nine months. Construction for Plaz@A began in August last year. Ms. de Guzman said call center company eTelecare Global Solutions will lease half of the facility while the remaining half will be leased to a call center arm of a "recognized service company," which she refused to name. Cost to locate in Northgate Cyberzone is estimated to be 30% lower than in the Makati central business district. A total of 17 IT companies are already operating inside the Northgate Cyberzone. Other office buildings in Northgate are Plaz@B and Plaz@C, both four-storey buildings designed for IT tenants; the five-storey 18,000-square meter build-to-suit facility for the Hongkong and Shanghai Banking Corp; the Inventory Building; and the IT School Building. -MARICEL E. ESTAVILLO, Business World Reporter