Cebu province is ‘P6 billion richer’ after turnover of Filinvest towers
Cebu province is ‘P6 billion richer’ after turnover of Filinvest towers
By: Morexette Marie B. Erram - Senior Multimedia Reporter - CDN Digital|September 05,2025 - 12:29 PM
Cebu Governor Pamela “Pam” Baricuatro (3rd from left) leads the turnover ceremony of Towers 3 and 4 of the Filinvest Cyberzone to Capitol. | Morexette Marie Erram
CEBU CITY, Philippines — The assets of Cebu, the country’s ‘wealthiest province’, just grew as one of its joint ventures with conglomerate Filinvest Land Inc. (FLI) finally came into fruition.
FLI on Thursday, September 4, formally turned over Towers 3 and 4 of the Filinvest Cyberzone in Brgy. Apas, Cebu City to the Capitol.
A ceremony also took place there led by Cebu Gov. Pamela Baricuatro and Josephine Gotianun-Yap, Filinvest Development Corporation Vice Chairperson.
Also present are lawyers Joseph Felix Mari “Ace” Durano, provincial administrator and Tristan Las Marias, chief executive officer (CEO) of Filinvest Land Inc. (FLI).
The completion of the two commercial buildings also meant more assets for the province, at P6 billion.
Towers 3 and 4 will house not only corporate offices but will also feature retail options.
With all four towers of Filinvest Cyberzone operational, Cebu province has been expected to collect at least P47 million in revenues as its rent share annually, totaling to P1.4 billion in 30 years.
The Filinvest Cyberzone is a joint-venture agreement between the province and FLI that aims to convert the 1.2-hectare Capitol-owned property in Brgy. Apas, Cebu City into a commercial district.
The first two towers were already turned over in 2022.
In her speech, Baricuatro said the joint venture signifies Cebu’s appeal as a “growing hub of business and innovation.”
The governor also thanked the Gotianun-led firm for their trust and continued support with Cebu.
“As governor, I am committed to ensuring that Cebu remains a place where business can thrive and where every Cebuanos can benefit of growth that is inclusive and sustainable,” Baricuatro said.
READ: Filinvest betting on provincial projects for better years ahead
Likewise, Gotianun-Yap, in her speech, pointed out that similar projects show “the collective efforts to improve the lives of Filipinos.”
“Our efforts always aim to drive opportunities for economic growth and to improve the lives of countless Filipinos… Our vision is to provide world-class office and retail spaces where local and foreign businesses can drive fueling innovation, creating jobs, and supporting the boost rise as a dynamic hub of enterprise,” Gotianun-Yap said.
Source: https://cebudailynews.inquirer.net/655725/cebu-province-is-p6-billion-richer-after-turnover-of-filinvest-towers?fbclid=IwZXh0bgNhZW0CMTEAAR7dHUyYBBSV6WPJiYQy3kll6vynUqu3ysyS7lKHuCX8YArrv2zcmkmyhKVEiA_aem_KlbPyngJ4SxnBvGSPAmgug
