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30 YEARS OF CEBU HOLDINGS: Inspiring, innovating and integrating the communities we serve

Sunday December 9, 2018

CEBU Holdings, Inc. (CHI) will start this month its yearlong celebration of a significant milestone, its 30th year of developing integrated, master-planned, sustainable estates that catalyzed growth in Cebu. Thirty years ago, CHI acquired from the Cebu Provincial Government a nearly 50-hectare golf course in Cebu City. A partnership that followed soon made available for development the 24-hectare old Lahug airport. Combined, the Cebu Park District now hosts the office spaces where more than 90,000 make a living; these have grown to become the economic and lifestyle center of Cebu. One of this anniversary year’s highlights will be the realization of a merger between CHI and subsidiary, Cebu Property Ventures and Development Corp., which will strengthen the constant effort to deliver the best value possible to the company’s stakeholders. “Over time, you can develop many projects to complete an estate,” CHI Aniceto Bisnar, Jr. said. “We now have different product lines, and our residential brands are complete from high-end to affordable condominiums and housing. As developers, we have the opportunity to bring everything on one platform of development. That’s the strength of Ayala Land: aside from our brand, our reputation, and the quality of the projects we do, we will always commit to deliver a high quality of development at a price that is affordable to a wide market.” Inspired by the success of its flagship estates, Cebu Holdings and its parent company Ayala Land are excited to open in 2019 a new Ayala Mall in Cebu I.T. Park’s Central Bloc development. Another mall will also follow at Gatewalk Central, the 17.5-hectare estate that’s being developed in partnership with AboitizLand in Mandaue City. Progress on another new estate, Seagrove in Punta Engaño in Lapu-Lapu City, is on track under a partnership with Taft Property Ventures and Development Corp. Both Gatewalk Central and Seagrove will highlight the collaborations that have proved so crucial to Cebu Holdings’ success in these last 30 years. These will also embody the sustainability at the core of CHI’s design and operations —its commitment to develop estates in a way that inspires people and companies to create greater value and live productively and well, while protecting the sense of place and identity that binds communities together. Cebu Holdings celebrates its 30th year with a heightened excitement about the new concepts it is introducing in other parts of Metro Cebu. Grateful for the chance to support Cebu’s business and tourism ambitions and to help build a better nation, Cebu Holdings promises to inspire, innovate, and integrate—as always— with a more inclusive and sustainable future in mind.

Emerging demand drivers

Saturday October 6, 2018

New sectors are poised to become significant contributors to the bustling office property market in Cebu. Apart from the business process outsourcing (BPO) and knowledge process outsourcing (KPO) sectors, other potential demand drivers include offshore gaming companies and language centers, according to Colliers International Philippines. “Colliers believes that offshore gaming has the potential to become a major plank of the Cebu office market. With a more conducive local regulatory environment, we expect offshore gaming to become a major contributor to office space take up in Cebu,” Colliers said. Offshore gaming companies had in fact accounted for 14 percent of office transactions in Cebu in the first half of the year. Another potential major contributor to the office space demand in Cebu moving forward would be companies providing English as a secondary language (ESL) services, according to Colliers. As it is, there are already a number of ESL centers that are already operating in Cebu, including QQ English, TOMAS English Training Center, Access E-Talk Plus, Nexseed, and Winkey Online English Academy, it added. “In our opinion, the expansion of these companies as well as the entry of new players bodes well for office space expansion moving forward. A mix of existing and new ESL providers is reportedly considering new office space due to be completed over the next 12 to 18 months in major business parks such as Cebu IT Park and Cebu Business Park,” Colliers said. Robust take up Despite initial concerns that office space demand from outsourcing firms in Metro Cebu will slow down this year, the said sector remained robust. In the first half of the year, Colliers recorded about 58,000 sqm in office transactions, 74 percent of which can be attributed to BPOs and KPOs. Among the large BPO and KPO companies that occupied space in Cebu in the first half include Shearwater Health, Cresco Shared Services, Convergys, Wipro and Teledirect. They primarily provide healthcare, information technology (IT) and customer support services. Traditional and non-outsourcing firms meanwhile covered 12 percent of total transactions in the first half of 2018 with remittance centers, insurance companies, and educational services occupying space. Cebu office stock According to Colliers, it expects Cebu’s office stock to reach 1.04 million sqm before the end of 2018. This is reportedly more than double Metro Cebu’s office stock in 2011. As of end-2017, Cebu’s office stock reached 960,000 sqm in gross leasable area (GLA)—four times larger than Metro Cebu’s stock 10 years ago. As of the second quarter, Metro Cebu’s office stock reached 1.01 million sqm following the completion of three new buildings, which delivered a combined 53,000 sqm of new leasable office space. The second half expects the delivery of nearly 30,000 sqm in Cebu. Flexible office cuts Meanwhile, Colliers is also encouraging developers to construct office space that could accommodate non-outsourcing and traditional businesses that require smaller space. “Developers should be more flexible and keep in mind that the expansion of the Cebu economy drives the growth of traditional firms such as those involved in engineering and logistics that occupy smaller office space. This is particularly important for office towers that will be built around the uptown and downtown area which remains as the preferred location of traditional and non-BPO businesses,” Colliers explained. “Developers should also consider government agencies in old office buildings that are likely to transfer to newer and larger offices in the near to medium term,” it further said. Colliers likewise pointed to another potential office space demand driver: micro, small and medium enterprises (MSMEs) and start-ups, which may require co-working spaces. “Colliers believes that flexible workspace operators can consider buying office spaces and converting them to co-working spaces; or partnering with developers to mitigate the impact of increasing rents. On the other hand, we encourage developers to dedicate co-working spaces in their buildings to take advantage of the sector’s growth,” added Maricris Sarino-Joson, Colliers Philippines associate director for office services. (INQUIRER)

The Freeman, SunStar rule CPF fun run, Metafit

Saturday September 22, 2018

THE Freeman (TF) runners ruled the Cebu Press Freedom (CPF) 2018 Fun Run while the SunStar Daily (SSD) team clinched the title of the Coach-A Throwback Metafit Challenge held at the Cebu Business Park (CBP) yesterday morning. TF’s Julius Pañero and Artemio Abellar clinched the 3-kilometer and 5K titles, respectively. Pañero clocked 15 minutes and 39 seconds to rule the 3K distance while Abellar crossed the finish line with a time of 25.15 to dominate the 5K race. Three other TF runners also made podium finishes with Cherrie Mae Uy and Glory Lariosa finishing second and third, respectively, in the 3K female division, and Flora Mata finishing second in the 5K female division. Uy clocked 26.27 while Lariosa finished with 27.50. They trailed eventual 3K female title holder Demi Jane Hernani of GMA who had the best time at 22.15. Mata, for her part, trailed SSD’s Rosa Maria Paquera who bagged the 5K female title with her time of 25.30. Mata clocked 28.06. Three other SSD runners also finished in the top 3 in their respective categories. Robert Aniñon rounded up the top 3 in the 3K male with his time of 17.10, while Hendrell Caballero (26.05) and Rodrigo Saducos (26.10) had a 2-3 finish in the 5K male division. The lone podium finisher for Cebu Daily News (CDN) was Edouard Illut who finished with a time of 16.03 which placed him second in the 3K male division. Meanwhile, for the first time in three years, SSD ended CDN’s reign in the Metafit Challenge which always follows the CPF Run. SSD finished with a total of 190 points to dethrone CDN who settled for second runner-up after accumulating a total of 160 points. The first runner-up honors went to TF while GMA finished in fourth place. (CEBU DAILY NEWS)

BPOs to continue to fuel office demand in Cebu

Friday September 21, 2018

The booming outsourcing sector continues to be the biggest demand driver for office space in Cebu despite initial concerns of a slowdown. In its latest report, property management and research firm Colliers International Philippines concluded that the business process outsourcing (BPO) and knowledge process outsourcing (KPO) sectors in Cebu remain robust based on office transactions in the first half of 2018. A total of 58,000 square meters in office transactions were recorded from January to June this year. Of this number, 74 percent were for BPO or call centers and KPO companies which provide higher-value services such as medical coding, legal transcription, software engineering, and finance and accounting. Among the companies that occupied spaces in Cebu during the first half of the year are Shearwater Health, Cresco Shared Services, Convergys, Wipro, and Teledirect. These companies primarily provide healthcare, information technology (IT), and customer support services. “Overall, Colliers believes that Metro Cebu’s competitiveness as a desired BPO investment hub will be sustained as it serves as the gateway to the Visayas Islands. This is complemented by the completion of the new terminal of Mactan-Cebu International Airport,” said Dom Fredrick Andaya, Colliers International Philippines Director for Office Services. “Aside from being a manufacturing base, its economy is being propelled by the BPO industry. Both sectors are major contributors to office space take up in Metro Cebu,” he added. Initially, there were concerns that office space demand from outsourcing firms in Metro Cebu will slow down this year, similar to Metro Manila. These uncertainties were brought about by the shift to greater economic nationalism in the United States, led by the anti-outsourcing stance of the present administration; the perceived decline in the peace and order situation in the Philippines; and delay in the proclamation of Philippine Economic Zone Authority (PEZA) buildings, which enables tenants to apply for tax and non-tax incentives. Sought for comment on Colliers’ findings, the Cebu IT-BPM Organization (CIB.O) echoed that despite some concerns, the industry continues to grow. According to Wilfredo “Jun” Saa Jr., while they have noticed the industry starting to “mature,” it still continues to grow. “We can say that it’s not as fast as before wherein the growth was so high. We see some maturing of the industry which is normal because the population is huge. But now, it’s still there and we hope to sustain it,” he told Cebu Daily News. He said most of the existing players in the industry are expanding. But as for new and bigger players, there haven’t been a lot, except for Amazon which set up an office in Cebu this year. Aside from sustaining the industry’s growth, Saa said that CIB.O’s thrust now is also to cross over to the higher value services. Part of the group’s activities now are skills upgrading. Saa said they have started a pilot training for some senior high school teachers for coding and programming for them to cascade to their students. Offshore gambling Following the BPO and KPO sectors, offshore gambling is accounted for the second biggest chunk of the office space transactions for the first half of 2018. According to Colliers, offshore gambling took up 14 percent of office space transactions. Colliers believes that offshore gambling has the potential to become a major plank of the Cebu office market. With a more conducive local regulatory environment, we expect offshore gambling to become a major contributor to office space take up in Cebu. The remaining 12 percent of office spaces sold were taken up by traditional and non-outsourcing firms. These include remittance centers, insurance companies, and educational services occupying space. On the other hand, overall vacancy for the second half of 2018 reached 8.9 percent. This is lower than the 9.5 percent recorded in the first half of 2018. Data from Colliers showed that the Cebu Business Park (CBP) and IT Park recorded vacancy of between 5.5 percent and 7.4 percent while their fringes posted a vacancy of only 1 percent. Mactan’s vacancy declined to 5 percent due to strong leasing from the start of this year while Mandaue’s vacancy dropped to 30 percent. By the end of the year, Colliers expects Metro Cebu’s vacancy to hover between 8 percent to 9 percent. Colliers said they expect strong demand to continue especially with the CBP and IT Park being established IT zones. As for Mactan, they said vacancy will drop further as more offshore gambling firms are expected to open shop; while the uptown and downtown areas will continue to attract more traditional and non-BPO firms. (CEBU DAILY NEWS)

CHI, CPVDC awarded for best practices

Wednesday August 8, 2018

AYALA Land-led companies Cebu Holdings, Inc. (CHI) and Cebu Property Ventures and Development Corp. (CPVDC) were recently recognized by the Institute of Corporate Directors (ICD) as among the top performing publicly-listed companies under the ASEAN Corporate Governance Scorecard (ACGS) for 2017. Out of the more than 200 publicly-listed companies in the Philippines, both CHI and CPVDC were part of the 42 companies that were awarded during the appreciation ceremony held last July 31 at the Tower Club in Makati. These were the only Cebu-based companies among the awardees. ICD is a non-stock, non-profit organization dedicated to raising the corporate governance standards of the Philippines. The rating is based on the five principles of corporate governance: rights and equitable treatment of shareholders, role of stakeholders, board responsibility, disclosure and transparency. (FREEMAN)

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