Latitude Corporate Center tops off

CEBU, Philippines — The Latitude Corporate Center will start to add office spaces in Cebu’s expanding office sector early next year.

Its developer, Cebu Landmasters Inc., yesterday announced that the 24-storey office building, located at the Cebu Business Park in uptown Cebu City, will be operational by 2020.

The project, a joint venture with Borromeo Bros Estates, is hoped to attract locators from the business process outsourcing (BPO) and information technology (IT) sectors.

After the top-off ceremony for the corporate center on Wednesday, CLI chief executive Jose Soberano III said the two companies are in the process of firming plans to build another project in Cebu City to be announced by mid-year or third quarter.

The 83-unit Latitude Corporate Center can accommodate small, medium and large office spaces.

Soberano said the project’s sellable units, representing 20 percent of total floor space, have already been sold out.

The remaining 80 percent are leasable spaces, and will soon be taken up by BPO and IT companies.

Soberano said that the company is expected to turn over the units by the fourth quarter of 2019.

“We are already opening the building for site visit in the second quarter for companies interested in leasing spaces,” he said.

CLI, known for developing real estate projects over the past several years, said it has ventured into office development to diversify its income sources. — JMD