Listed Developer opens P1.2B office tower in CBP

LISTED developer Cebu Landmasters Inc. (CLI) and Borromeo Brothers Estate Inc. on Wednesday, December 8, 2021, opened the P1.2 billion four-Star Berde-certified commercial tower Latitude Corporate Center in Cebu Business Park.

Its opening increases CLI’s office gross leasable area (GLA) to 29,000 square meters from 14,000 square meters year-on-year.

CLI has over 47,000 square meters of additional office and retail GLA currently under construction. This is in line with the listed company’s long-term strategy to build up its GLA to 200,000 square meters, allowing its office, retail and hospitality portfolio to contribute 10 percent of the company’s growing topline in three to five years.

The hybrid office building stands 24 stories high with designated spaces for business process management offices (8th-12th floors), enterprise offices (14th-16th floors), executive offices (17th-24th floors) and a retail concept (first and second floors).

Latitude is set to attract tenants from both local and multinational companies such as banks, technology service providers, real estate, food and retail industries, especially the information technology-business process management companies.

Back to normalcy

“Our economy is now reopening and we see a future turnover for office spaces especially from the IT-BPO (information technology-business process outsourcing) sectors. As we expand our office footprint, we also foresee our industry players slowly transition business operations back to normalcy in the coming months as we anticipate post-pandemic recovery,” CLI chairman and chief executive officer Jose Soberano III told the Philippines Stock Exchange Thursday, December 9.

The office tower is set to offer 83 units with 35,000 square meters of gross floor area and leasable spaces ranging from 51 square meters up to 2,000 square meters and 247 parking slots, ideal for small and medium-sized enterprises and large-scale businesses.

Green features

Latitude Corporate Center embodies a green building design highlighting eco-features such as LED lighting, high-performance building envelope, operable windows for natural ventilation, rainwater collection system, stub-outs for fresh air provision, material recovery facility, plaza with tree sanctuary, live wall at main lobbies, 60 percent glass ration, and 20 percent vegetated green spaces.

Latitude Corporate Center is the first project of BL CBP Ventures Inc., a joint venture between CLI and Borromeo Brothers Estate Inc.