Thursday, May 23, 2019

Oakridge looks to lease to SMEs

CEBU-BASED Oakridge Realty Development Corp. is opening its 12-storey Oakridge IT Center 2 (OITC 2) to small and medium homegrown companies that are looking for a decent business address.

Aside from tapping large tenants, Edmun Liu, chief executive officer of Oakridge Realty, said in an interview on Monday they are opening their doors to firms requiring small office spaces.

He stressed that as a homegrown player, they want to cater to this underserved market and become part of their business growth.

The underserved

“While these big developers coming in to Cebu is a good thing...offering large spaces to big tenants, we realized that one of the gaps of the market, the underserved portion of the market, are those homegrown startups, SMEs, people who have big dreams...We realized that we want to cater to their needs and provide spaces for them,” said Liu.

He said the company is capitalizing on its strength being a strong entity that can handle all the requirements of SMEs, even adding a “personal touch” to its services.

Liu said offering spaces to this segment will allow them to help these SMEs grow.

“After all, they aren’t going to be little forever,” said Liu.

OITC 2 will be launched this December.

According to Liu, half of the building has been taken by small offices from diverse industries like information technology, creatives, design, and small business process management firms.

The Peza-registered office building will have more than 14,000 square meters (sq.m) of leasable space from the fifth to the 12th floors.


The ground floor will be available for retail while the second to fourth floors will be allocated for parking. Amenities include round-the-clock security, backup power, five-passenger elevators with one service elevator, and a helipad on the roof deck.

The building topped off last June.

OITC 2 forms part of the P2-billion capital expenditure that the company has allocated for three years (until 2018), which also covers the development of another IT building and an atrium inside Oakridge 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 leasing inventory.

The development of an atrium, which will connect OITC 2 and OITC 3, is envisioned as a retail hub that will house shops that would cater to the needs of the tenants.

One of Oakridge’s biggest tenants, is the outsourcing firm Teletech.

Other office buildings at the Oakridge Business Park are the Oakridge IT Center 1 and Block 88. The Oakridge IT Center 1 has over 7,500 sq.m of leasing space while the five-floor Block 88 has over 10,000 sq.m of office and commercial space.

The business park also houses two large-scale event venues—the Oakridge Pavilion, a 1,200 sq.m facility, and the 400- seater Oakridge Horizons at the top of Block 88.
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