Urban developer Megaworld Corporation is developing a new state-of-the art 24x7 office building at the Eastwood City Cyberpark to take advantage of the growing demand for space by companies in the business process outsourcing and information technology sectors.

Megaworld chief information officer Francisco Canuto informed the Philippine Stock Exchange (PSE) yesterday that the new building will be called 1880 Eastwood Avenue and will be built in two phases. Constructions is set to start immediately to meet a target completion date for the first phase by the first quarter of 2007. The first phase will have a gross building area of 40,000 square meters.

?The office building is consistent with Megaworld?s commitment to provide the rapidly growing Philippine business process outsourcing industry with real estate solutions customtailored to their requirements in an IT-friendly environment such as that offered by the country?s premier CyberPark,? Canuto said. He added that the office building will assure the locators at the CyberPark that Megaworld will continue to provide them with enough room for their expansion. Megaworld is also developing two parcels of land of the expanded SRDP South Property in Fort Bonifacio which was bidded out by the Municipal Government of Taguig.

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