According to the 2017 A.T. Kearney Global Services Location Index, the Philippines ranks seventh in the top outsourcing destinations category in the world.
KMC Savills wrote: "Metro Cebu has already a strong foothold on the BPO industry . As of 4Q of 2018, at least 329 IT-BPO firms are operating within the city's jurisdiction, employing a total of 130,260 people and occupying a total of 58,000 square meters in office transactions. It also ranked at the 11th place in Tholons' 2018 Services Globalization index, which ranks the top 100 'Super Cities' in the outsourcing industry. Cebu City has an established IT-BPO presence accounting for twenty-four PEZA-accredited IT Centers and four IT Parks." Do you know what's the IT-BPO Capital of Cebu? Yes, the Cebu IT Park. Let us know more about this famous business dictrict in Cebu City.
The IT Capital of Cebu
Cebu I.T. Park is one of the most prime areas in Cebu. It is an integrated, mixed-use development with PEZA accreditation as an Information Technology Park in 2000—the first in the Visayas and Mindanao. It is a pioneer in Cebu’s I.T. industry and widely considered as the IT capital of Cebu. IT is often tied up with Business Process Outsourcing (BPO) thus called the IT-BPO Industry which is one of the economic propellers in Metro Cebu and in the Philippines at large. It is part of the so-called Cebu Park District: the Cebu Business Park and the Cebu IT Park.
Home of BPO Industry
Cebu IT Park, a 27-hectare global gateway, is "home to a diverse mix of international and local software research and development companies, BPOs, and contact centers, which bring in millions of pesos in investments and employment to thousands of people." It is the address of choice for multinationals and industry leaders open to prime residential, business and commercial spaces of mixed-use hub. It has become the preferred place for business for over a hundred global and local companies, making it the largest concentration of BPO and I.T. companies in the region.
24/7 Lifestyle Hub
The community is designed to support the 23/7 demands of the growing BPO industry. Thus, you can find wide selection of 24/7 dining, shopping, and leisure facilities. Cebu IT Park has become a bustling lifestyle destination within the city. Check out this interactive map.
Cebu Job-Recruitment Hub
According to Cebu jobs site mynimo.com, the BPO industry in Cebu registered a 19% hiring growth from January to May this year, mostly concentrated in Cebu City. If you want to find a job, Cebu IT Park must be your first destination. Check out who's hiring.
As of end 2018, the Cebu BPO sector posted an employment of around 160,000, said Cebu IT BPM Organization (CIB.O) Managing Director Wilfredo Sa-a Jr. The BPO industry is eyeing to grow to as much as 200,000 workers this year. However, the automation and artificial intelligence (AI) had tempered the employment growth in Cebu’s BPO sector as "the direction of the industry now is towards the non-voice sector,” Sa-a said.
Shop and Dine Hub
One of the most awaited "soon to open" establishments is the Ayala Malls Central Bloc, which I wrote about it here. This is a mixed-use development with 5-level shopping center, two BPO office buildings and a Seda Hotel. The Central Bloc has open park with green environment.
Ayala Malls Central Bloc is expected to generate around 1000 jobs (security personnel, housekeeping, electricians, service crew, admin positions, cashiers, computer technicians, among others). If you are looking for a job, consider the Ayala Malls Central Bloc. The Sedan Hotel is also hiring for its staff and personnel.
Eat fine dining and restaurants along the streets of Cebu IT Park. The Walk, Garden Bloc and Garden Row are the destinations that make your visit more meaningful.
Garden Bloc.
Garden Bloc is a 3-hectare open park development with wide greeneries and pathways. It is an enjoyable place for jogging, brisk walking, connecting with nature and hanging out with friends.
The Garden Bloc is also home to popular dining concepts like Shaka BBQ, Pipeline, Yaksi, The Social, Sugbo Mercado and The Pyramid.
The Walk. The Walk remains a top destination among the growing number of retail establishments at Cebu IT Park. It continues to enjoy patronage not only by the park’s workforce and residents, but also by the rest of the Cebuano community. The Walk welcomed locators including Music One Family KTV, Zubuchon, Mooon Cafe, Casa Verde and more.
Health Care Hub
The Department of Health (DOH) is cognizant of the health risk of call center agents and other workers in the BPO industry. Among the common health problems are headache, fatigue, eye strain, chest and back pain and voice problems. Harassment from irate clients was pointed as the prime cause of stress by BPO employees.
"Since most of the country’s BPO operations served American and European clients, employees had to work night shifts because of the time zone difference," DOH said. "Night work can cause disruptions in employees’ work-life balance and affect their psychological well-being."
Thus, in Cebu IT Park, there is a healthcare center called QualiMed Clinic whic offers primary healthcare services like IOH Services (Annual Physical Exam and Pre-employment Medical Exam); Multi-specialty Doctor Consultations (Family Medicine, Internal Medicine, Pediatrics, Obstetrics-Gynecology, Dermatology, Pulmonology, and Surgery); Radiology procedures (Chest X-Ray, General Ultrasound, and OB Ultrasound); Drug Testing; Dental Services; Electrocardiogram; and Laboratory services (Hematology, Clinical Chemistry, Clinical Microscopy, Immunology/Serology, Microbiology, and Histopathology).
QualiMed is a network of healthcare facilities owned and operated by Mercado General Hospital, Inc. (MGHI) in partnership with Ayala Land, Inc. (ALI).
Residential Hub
With the escallating heavy traffic in the city, particularly in the business district, Cebu IT Park does not only offer commerical spaces (offices) for BPO companies, their managers and employees but also residential condo units. In Cebu IT Park, there is an affordable condo units in Avida Towers Riala. Watch this video.
You can own a condo studio unit in Avida Towers Riala for as low as P21,774 per month through bank home mortgage.
The average rental in Cebu IT Park for studio unit is P25,000 per month. If you have it rented, you can price your unit at P22,000. Those who offer P20,000 per month bought their units during the preselling of this condo unit. Thus, lower monthly amortization on home mortgage.
Based on ZipMatch research, the Avida Towers in Cebu IT Park has the highest rental yield at 9.6% which gives you a confidence to earn in rental business. It shows that the demand for residential condo is high. The rental rate for condo offices in Cebu IT Park is between P150,000 to P200,000 per sqm which is higher than the rate in Cebu Business Park.
For more information about the topic or any inquiries about buying a property in Cebu, please contact us at 0908-301-7398 or send us an email at cebuhousefinder@yahoo.com. We help home buyers to find their dream house at the best price and location… for free!