Developer tops off first office tower

·2 min read

PROPERTY-DEVELOPER Johndorf Ventures Corp. (JVC) topped off Thursday, April 28, 2022, its 21-story office and commercial building Jondorf Tower in Cebu Business Park in Cebu City.

This Grade A building, Peza-certified and pre-certified LEED Gold tower is the company’s first foray in the office space leasing that is poised to be completed in the second quarter of 2023.

“Jondorf Tower is a testament to our growth and continuing legacy. It cements our commitment to actively participate in Cebu’s effervescent economy,” said JVC managing director Frances Abegail Lim.

Raymond Lim, JVC’s construction director, said the Jondorf Tower will become JVC’s regional headquarters. It will also house offices of local and international corporations, such as the business process management industry.

The tower has a gross leasable area of 17,860 square meters. There will be 11 levels dedicated for office spaces from the seventh to 17th floor while five levels will be dedicated for podium parking. Retail outlets will be located at the ground floor.

David Leechiu, chief executive officer of Leechiu Property Consultants (LPC), said the Jondorf Tower is an expression of the company’s confidence to Cebu’s economy and in the future amid the pandemic and the recent typhoon that battered the province.

“The JVC Tower is uniquely attractive and will be completed at just the right time, pointing to an

LPC study indicating a surge in demand for office spaces in areas like Cebu as workers return to live-work environments,” said Leechiu.

LPC is one of JVC’s major partners.

In its 36-year history in real estate, JVC is known for developing economic houses which later on transitioned to building mixed-use development. It has created 30 different communities in Davao, Cagayan de Oro, Iligan, Butuan and Cebu.

Raymond said following the success of its flagship office building Jonhdorf Tower, the company is eyeing to build more office buildings as well as expand its footprint in the residential scene.

“I am quite optimistic of the future of office in Cebu. Cebu is the second largest market for office in the Philippines,” said Leechiu.

He said the office market saw a recovery in the first quarter of this year with a demand of 8,000 to 9,000 square meters just in the first three months of the year.

Leechiu said companies are growing again and the growth is on the way back to the pre-Covid level.

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