Megaworld Corporation, one of the Philippines’ renowned property developers, is seen bolstering its foothold in Cebu in hopes of tapping new business process outsourcing (BPO) companies. Megaworld, which is led by Andrew Tan, is putting up a P20-billion establishment called the Mactan Newtown project.
According to Megaworld, their 20-hectare Mactan Newtown site is expected to provide at least 150,000 square meters of office space and is set to open its doors in the next three to five years.
Megaworld’s first Vice-president Jericho Go said in a press statement that the company is reinforcing projects in Cebu, specifically in Mactan Newtown, because of its potential. He added that they can increase the volume of leasable spaces if there is an increase in demand. Affordable labor and location, large workforce, and proper reinforcement from the local government are some of the factors that make Cebu an attractive location for businesses.
The establishment is projected to produce 40,000 full-time BPO jobs by 2018.