Commercial developer allots spaces for startups

CEBU, Philippines — As a testament to its support to micro-entrepreneurs, commercial developer Oakridge Realty Development Corporation announced to allocate decent office spaces for this particular sector.

This was announced by the company’s chief executive officer (CEO) Edmun Liu, following the near completion of its 12-story Oakridge IT Center 2 (OITC2) building at the Oakridge Business Park.

Liu said Oakridge will help address the shortage of decent office address for the homegrown and start-up enterprises.

He added that while it is good that big developers are coming to Cebu and providing large office spaces for big tenants, the company saw the huge gap for homegrown and startups.  Liu said, Oakridge being a homegrown Cebuano company, has this passion of helping enterprises that are just starting.

After all, these entrepreneurs aren’t going to be little forever, added Liu.

In the commercial development sphere, Liu referred to his company as the "little guy," thus, it is also opening its doors to help the other ‘little guys’ in the business sector, those who can hardly afford to rent a space in a distinguished business address.

The Peza-registered office building, which is set to open in December this year will have more than 14,000 square meters (sq.m) of leasable space from the fifth to the 12th floors.

OITC 2 is part of the P2 billion capital expenditure that the company has allocated for until 2018.

The capex also include the development of another IT building and an atrium inside Oakridge Business Park.

At present, the Oakridge Business Park hosts Multinational BPO companies, shopping, dining and vanity establishments, among others.

Aside from tapping giant tenants, Liu said SMEs or homegrown companies have special place in the business park.

Once completed, the OITC 2, will bring the business park's total office leasable space to 30,000 sq.m, doubling its current for lease portfolio.

According to Liu, one of the few advantages of the development, is that its tenants can direct their concerns or negotiations with the owner sans the usual thread of corporate bureaucracy.

Oakridge Business Park is a distinct business address along A.S. Fortuna street, Mandaue City. (FREEMAN)