Araneta Center Inc., the property arm of the Araneta Group, is ramping up the construction of its first office tower within the P15-billion Cyberpark in Araneta Center, to complete the project by the end of the year.
In a statement, the company said its Cyberpark Tower One will be the first within the 8-hectare development. The P15-billion commercial block comprises five office towers catering to the strong demand in the business process outsourcing (BPO) sector.
“Cyberpark Tower One, the first of the five towers to be built, will open by the end of 2015, while Cyberpark Tower Two will be finished by 2016,” the company said.
The five Cyberpark towers will generate 650,000 square meters (sqm.) of leasable space to accommodate about 100,000 BPO agents.
The 35-hectare Araneta Center houses over 30,000 BPO professionals across 150,000 sqm. of leasable area built by some of the biggest BPO companies like Accenture, AIG, EGS, and Telus.
Since the 1960s, the 35-hectare commercial and entertainment complex in Cubao has evolved into a mixed-use community with corporate, leisure, retail, hospitality, entertainment and residential components.
“The addition of Cyberpark only reinforces the Araneta Center’s primacy as Quezon City’s premier central business district,” the company said.