Filinvest Land to expand Cebu office footprint in 2023

Gotianun-led property giant Filinvest Land Inc. (FLI) is completing two more office towers in Cebu in 2023 in answer to the strong demand from business process outsourcing (BPO) companies. In a statement on Monday, Filinvest Land said the towers would add 38,718 square meters of office space and 5,471 square meters of retail space. The new office leasing assets, in turn, could eventually be injected into FLI's real estate investment trust arm, Filinvest REIT Corp. (FILRT). The builder earlier completed Cebu Towers 1 and 2, which are now being leased to a host of global BPO locators. Tower 1 is now fully occupied, while Tower 2 is 73-percent occupied, according to FLI. "The BP...

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