Being an investment hub Cebu likely to recover fast by 2021

CEBU, Philippines —  Cebu is seen to be one of the fastest economies to benefit from the anticipated recovery in 2021 because of its attractive position as an investment hub.

In a webinar hosted by Colliers International, the company’s head for research Joey Roi H. Bondoc said that Cebu remains to be the prime choice among investors, despite its current reputation to have one of the highest number of COVID-19 cases in the country.

The presence of more PEZA-accredited office buildings, and development, rich manpower pool, its tourism charm, among others are just few of the “good points” of Cebu why it remains in the top list of expansion destinations among companies, particularly the Business Process Outsourcing (BPOs).

The webinar, entitled “Role of Sustainability Moving Forward” in partnership with Arthaland, also emphasized the need for developers to re-plan their existing buildings and make necessary investments for sustainable certifications for green buildings.

According to Bondoc, a lot of companies now all over the world are already making plans of taking advantage of the post COVID-19 recovery, and expanding offshore is part of the more important considerations.

“Cebu might be in the slowdown right now, [like anywhere else], but it will be the first to benefit the rebound that will likely start by 2021,” said Bondoc.

Engr. Edgar Sabidong, chairman of Philippine Green Building Council and vice president of technical services, said Cebu’s noted resiliency amid too many crises it went through, and the local government units’ quick adaption to green development are few of the attractions which make Cebu a preferred choice of investors after the pandemic.

What is happening right now, said Oliver Chan, Arthaland senior vice president of Arthaland Corporation, is a momentary pause.

“But, Cebu remains an attractive location,” Bondoc said the recovery projected by economic experts and managers in 2021, will not just benefit the office space demand in Cebu, but also in other real estate products such a residential in both house and lot and condominium packages, integrated developments, among others.