Officials top off Calyx Center in IT Park

By Katlene O. Cacho

Tuesday, November 22, 2011

INNOLAND Development Corp. officials topped off the company's P1-billion flag­ship "green project" Calyx Center on Monday. Construction of the firm's two other real estate projects is underway, a top official of the company said.

Innoland Development Corp. marketing director Crystal Chloe Ong said units of the mixed-used development Calyx Center are already fully sold.

She said residential units of the building will be turned over to owners in September next year. The retail component, on the other hand, will be delivered in the first quarter of 2012.

Ong said a healthcare company will occupy three floors of the building.

Calyx Center is a 26-storey green hybrid building that has over 200 residential and commercial units at the Asiatown I.T. Park. The project was the first of three developments the company worked on since last year.

Early this year, the company launched the P700-million Calyx Residences, a 27-storey "green residential tower" with 223 units at the Cebu Business Park. Ong said over 100 units or 70 percent of the residential building is sold out.

Later in the year, the company launched and started construction on The Link, a 20-storey BPO building beside i2 at the Asiatown I.T.Park.

The Link will house 12 floors of leasable office spaces, five levels of above-ground parking, one level basement parking and a retail area on the ground floor.

Ong said the company already started negotiating with potential BPO locators. She said the continued growth of the BPO industry in Cebu prompted the firm to build another office building.

The Ong family is also the owner of the TGU Towers in Asiatown I.T. Park.

In earlier interviews, Innoland chief operating officer Charles Vincent Ong said these three projects would help strengthen the company's foothold in the real estate business in Cebu.

He attributed the company's bullish outlook to Cebu's growing tourism and BPO industries.

Published in the Sun.Star Cebu newspaper on November 23, 2011.