The motorcycle manufacturing giant in Cebu, Norkis Group of Companies, is venturing into business process outsourcing (BPO) business with the planned development of a P6-billion office complex in Mandaue City.
In a briefing held at the Ortigas Center on Friday, it was announced that the Norkis Group of Companies is building a 2.8-hectare BPO office development called the Norkis Cyberpark, which will house five office towers.
To be built in the span of three to five years, the overall project has an approved investment cost of P6 billion, of which P300 million will be spent for the first tower alone.
As to how the company will fund the project, Norberto Quisumbing Jr., Norkis chairman, said the group intends to tap loans from banks and generated funds internally.
“We can go with one or two buildings on our own. But if things could go well, we can proceed with the five buildings. Some banks have been supporting us for a long time,” he said.
The first of the five towers is scheduled for completion during the third quarter this year, while the construction of the second building may eventually start as soon as the first tower is fully taken up.
Danilo Ignacio, chairman and chief executive officer of DEI
Properties Inc., specified that the first tower will have six floors, the second one will have eight floors, the third one will have 12
floors, and the fifth tower will have 20 floors. DEI Properties is the development manager for the project.
A retail strip with convenience stores, restaurants and other quick-service requirements will also be built within the complex.
Norkis One, according to the company, will be complemented by The Arcade, a retail strip featuring food, service, and entertainment shops, set for completion at the same time as the first tower.
Upon completion, the whole Norkis Cyberpark development will have over 114,000 square meters of office and retail space.
Norkis recently held ground–breaking ceremonies for the project and has begun construction for the first components of the development.
“The Norkis Cyberpark project will help push development in the Mandaue City area as well as increase overall economic activity. At its completion, Norkis Cyberpark will help generate 38,000 jobs,” Quisumbing said. According to him, the first tower alone will provide more than 3,000 jobs.
Founded in 1962, the Norkis Group started with motorcycle manufacturing but has expanded to industrial products, financial services, travel services and real estate, among others.