CEBU CITY, Aug. 25 (PNA) — The Philippine Economic Zone Authority (PEZA) has certified as “information technology center” (ITC) the P6-billion joint venture project between developer Filinvest Land Inc. (FLI) and the Cebu provincial government.
The PEZA board of directors has passed a resolution granting the ITC status to Filinvest Cebu Cyberzone, a 1.23-hectare project in Barangay Apas, Cebu City.
The project would help provide “attractive incentives to firms registered with PEZA that would locate there.”
Under the build-operate-transfer (BOT) scheme sealed after a public bidding that FLI won in February 2012, the company is set to build the BPO complex and operate it for 25 years.
FLI will pay the province a monthly rental of P50 per square meter for the land.
FLI has so far paid the province P15.25 million over the past 18 months through Cyberzone Properties Inc. (CPI) that it had assigned for the project.
Once the project starts operation, the province is expected to receive a guaranteed additional P500,000 as its revenue share.
This amount would increase if two percent of revenues go beyond the guaranteed amount.
“With investments reaching up to P6 billion, CPI is committed to provide a sustainable mixed-use project comprised of four towers,” the FLI statement read.
“The four towers will include BPO offices, commercial spaces, and possibly a hotel that are complementary to each other and will enhance business activity and property values of the Province of Cebu and the adjacent barangay in Cebu City,” it added.
The BPO locators in the cyberzone are seen to generate 20,000 jobs in the next five years. (PNA)