Foremost green developer in the Philippines Arthaland Corp. is building a masterpiece of sustainable development in the Queen City of the South — the Cebu Exchange.
Located at the gateway of the Cebu IT Park in Cebu City, Cebu Exchange is the award-winning developer’s first project to rise outside of Metro Manila, where it boasts a portfolio of renowned real estate properties.
“It is our biggest project to date,” said Leonardo Po, Executive Vice-President at Arthaland.
“It’s the equivalent of three office buildings combined. And when the building is completed, it will have more than 12,000 people working in it, which is a massive number of people. That’s why we’re calling it our biggest and our best single business ecosystem.”
Slated for completion by 2021, Cebu Exchange is an office condominium being put together by Cebu Lavana Land Corp., a joint venture between Arthaland and the Hong Kong-based ARCH Capital Management Company Limited, on an 8,440 square meters of land along Salinas Drive.
It will be a 39-storey-tall postmodern structure, with a gross floor area of 108,000 square meters and a net sellable area of 88,000 square meters.
This project will be divided into several sections: the podium (ground floor to 8th floor), which will be home to the lobby, a diverse mix of retail outlets, and more; the low zone (9th to 15th floors), which is targeted primarily at business process outsourcing companies (BPOs); the mid zone (16th to 29th floors), which will cater to large corporate offices as well as BPOs; and the high zone (30th floor to the penthouse), which will contain units that can serve as the headquarters of different corporate entities.
There will be a total of 332 units, with the average unit size being 253 square meters. The specific unit size ranges per zone are as follows: 127 square meters to 1,644 square meters in the low zone; 126 square meters to 468 square meters in the mid zone; and 94 square meters to 667 square meters in the high zone.
Choosing Cebu City was a deliberate move by Arthaland. The city is one of the most prominent growth centers in the country, as well as a premier investment and tourist destination. It has become one of the most desirable business addresses today, especially since Metro Manila’s central business districts are grappling with limited land resources and fast-growing prices.
Cebu City is also emerging as a green building hub in the country. It seems only fitting that it’s the site of Arthaland’s latest green project.
Cebu Exchange has already been registered with the U.S. Green Building Council and the Philippine Green Building Council. It has also secured a Leadership in Energy and Environmental Design (LEED) precertification and on track for a Building for Ecologically Responsive Design Excellence (BERDE) certification.
“We’re the only developer in the country today to register all our projects with both the U.S. Green Building Council and the Philippine Green Building Council,” Mr. Po said.
“Not only are we looking locally, we’re also looking globally. We’re bringing a world-class building standard to this wonderful city.”
As a green building, Cebu Exchange will make intelligent and efficient use of power and water that will result in lower operating costs for the unit owners and tenants and reduced carbon footprint. Its other key green features include the use of non-polluting and low-emitting materials, efficient building envelope with double-glazed glass, efficient dual-piped plumbing system with gray water facility for irrigation, and LED lighting in common areas.
Amenity-wise, this grade-A, high-rise office building will feature smart, efficient high-speed elevator system, variable refrigerant flow air-conditioning systems, sophisticated fire detection and alarm system, and fiber optic connection.
There will be two common area landscaped decks: the Terrace Garden on the 12th floor and the Sky Park on the 33rd floor, where people can relax and take in sweeping views of the city.
Upon completion, Cebu Exchange will be the largest office development in Cebu IT Park, the perfect environment for businesses to grow.
Arthaland has also come up with something that no other developer has implemented before: Consolidated Leasing Solutions. In a nutshell, unit owners of lease-pool units will be represented as a single entity where their units are consolidated when dealing with potential tenants in terms of negotiation, documentation of leases and general tenant concerns regarding unit and building management.
“Through this solution, Arthaland takes away a lot of the usual, traditional hurdles and challenges faced by unit owners who want to lease out their office space. We take out all the hassles. All the documents, contracts, even all the technical requirements needed, property management, collection, billing, are all handled by Arthaland,” Chris Narciso, also an Executive Vice-President for Business Development at Arthaland, said.
Tenants also stand to benefit from this product innovation. “Corporate tenants will be able to benefit because they will be able to deal and negotiate with one representative landlord who has the professional experience in providing all the requirements they need,” Mr. Narciso said.
While still a few years away from completion, Cebu Exchange has begun collecting accolades. At the 2018 PropertyGuru Philippine Property Awards, it was named the Best Office Development in Cebu. It also earned a “Highly Commended” recognition in the Best BPO Office Development category and the Best Office Architectural Design category.
Cebu Exchange was also declared the Best Office Development in the Philippines at the 2018 PropertyGuru Asia Property Awards.
At The Outlook 2018 Philippine Buyers’ Choice Property Awards presented by Lamudi, Cebu Exchange won a “Highly Commended” recognition in the Green Project of the Year category.