Here in the Philippines, Cebu one of the famous tourist spot is the oldest city in the Philippines and one of the foremost domestic shipping ports in the country. The city is now home to the largest commercial center outside Manila and of the fastest growing real estate markets in the country. Cebu is known as “Queen of the South”, it is a developed metropolis with the idyllic charms of an exotic island destination. Cebu is the center of business districts, special economic zones and IT Parks that have made it an ideal investment destination for foreign and local companies doing business in the Philippines.
Cebu has started stirring interest among numerous investors in the country as the city’s real estate market flourishes. Most of the investors are now looking to Cebu City as the next real estate boom in the Philippines. The cost to purchase real estate in the area is about Php 4500 square meter, much cheaper than in Makati. Gregory Kittelson an outsourcing consultant stated that once a lot of the larger BPOs and call centers establish operations in Manila. Most of them look to Cebu as their first provincial destination in the Philippines. Yet, small and medium size BPOs have bypassed Manila and gone straight to Cebu.
The commercial office space has now become readily available in Cebu City. Most of call centers have already set up operations in the area and more are still on the way. More and more start-up companies are also up operations in Cebu because of the affordable office space. A number of Metro Manila based companies are even relocating some of their operations to the city.
In the Philippines, Cebu City is also a thriving tourist destination. It is one of the most important commercial and residential centers in the country. In the country today, it was once the oldest Spanish settlement in the Philippines it is now one of the fastest cities.
REFERENCE:
http://www.kittelsoncarpo.com/outsourcing-philippines/news-articles/real-estate-flourishes-in-cebu-stirs-investor-interest
