OAKRIDGE REALTY Development Corp. (ORDC), developer of the Oakridge Business Park in Mandaue City, has launched a warehousing brand to meet the growing demand for storage facilities in Cebu. ORDC Chief Executive Officer Edmun H. Liu, in an interview Monday, said they set up Oakridge Warehouse Solutions (OWS) in line with the goal to help address Cebu’s shortage in warehousing spaces. The company initially opened a 5,000 square-meter warehouse in Mandaue City last year, which is already fully occupied. A two-hectare warehouse in Cagayan de Oro City followed, now 80% occupied. Recently, real estate service firm Colliers International Philippines urged developers in Cebu to seriously consider the development of warehousing facilities aside from developing office buildings. Colliers said the establishment of automated warehouse systems will improve logistics in the Cebu. “This is particularly important for Cebu developers as modern warehouses are crucial in supporting the growth of the region’s e-commerce,” said Collier’s latest market intelligence report.

OFFICE SPACE
Meanwhile, ORDC continues to expand its office space developments. In December last year, it opened the refurbished three-story Oakridge IT Center 1 (OITC 1) within Oakridge Business Park, providing more office spaces, and curated retail and dining options. OITC 1, a Philippine Economic Zone Authority-registered building, adds another 4,300 square meters of leasable space within the park. In July 2019, ORDC launched the 12-story Oakridge IT Center (OITC) 3, adding 14,000 square meters of leasable space to the company’s commercial property inventory. — The Freeman

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