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Table of Contents
What is Asiatown IT Park?
Where is Asiatown IT Park located?
Where is Cebu City in the Philippines?
Who can buy lots at Asiatown IT
Park?
Can we lease lots
at Asiatown IT park?
What
are the park components?
How
big is Asiatown IT Park?
How
big are its lots for sale?
What
is the price per sqm?
What
is the difference between a regular lot and a premium lot?
What are the payment terms?
Is bank financing possible?
Who are its intended locators?
What do I get as a locator in
an economic zone?
How
many locators does the park already have?
What
is e Office One?
What
are the lease rates at e Office One?
Who
developed Asiatown IT Park?
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1. What is Asiatown IT Park? |
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It is conceived as a well-planned IT economic zone and modern trading
hub with global gateway. It was also approved by the Philippine Economic
Zone Authority Board as an Information Technology Special Economic
Zone in February 27, 2001. |
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2. Where is Asiatown IT Park located? |
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It is located at a primary section of the city’s northern
district, only 20 minutes away from the Mactan International Airport
and 10 minutes away from the Cebu International Port. It is also a
mere 1.5 km. away from Cebu Business Park, the biggest master planned
development in the Southern Philippines. |
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3. Where is Cebu City in the Philippines? |
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It is located in the island of Cebu, centrally located in the Philippines
and within the Southeast Asian region. Cebu is also the hub of trading
& commerce in the Visayas & Mindanao regions. |
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4. Who can buy lots at Asiatown
IT Park? |
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Filipino citizens and corporations that are at least 60% Filipino
owned may buy lots. |
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5. Can we lease lots at Asiatown IT park? |
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No. Lots are for sale only |
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6. What are the park components? |
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- e Office One
- Trade and Exhibit Center
- Exporters Row
- Telecoms Plaza,
- Civic Place with hospital and schools,
- Hotels
- Sewage treatment plant and utility area
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7. How big is Asiatown IT Park? |
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ATIT Park covers 24 hectares. |
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8. How big are its lots for sale? |
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Lot sizes range from 880 sqm to 4,432 sqm. |
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9. What is the price per sqm? |
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P23,000 per sqm for regular lots and P25,300 for premium lots. |
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10. What is the difference between a regular
lot and a premium lot? |
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Available premium lots are corner lots. |
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11. What are the payment terms? |
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A deposit of P100,000 is required to confirm a lot reservation.
A thirty percent (30%) down payment plus EVAT and other charges will
be due 30 days after the reservation. Payment terms for the 70% balance
are negotiable. |
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12. Is bank financing possible? |
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Yes |
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13. Who are its intended locators? |
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- Software developers in business, e-commerce, education &
entertainment
- Content developers for the internet & multi media
- It related research and development activities
- Telecommunication firms
- Design & prototype production companies
- Computer support services
- Call centers
- IT consulting
- Health care facilities
- Banks
- Restaurants & entertainment centers
- Corporate headquarters & showrooms for export companies
& Cebu based national retailers
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14. What do I get as a locator in an economic
zone? |
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IT service exporters and export producers of IT-related products
shall qualify for availment of the following incentives, subject to
such conditions as may be prescribed by the PEZA board:
- Income tax holidays
- 6 years from commercial operations if new, registered pioneer
firm
- 4 years from commercial operations if new registered none
pioneer firm
- 3 years from commercial operations of expanding firm
- Exemption from local government imposts, fees, licenses &
taxes except real property tax
- After the income tax holiday (ITH), option to pay a 5% tax on
gross income earned
- Tax & duties exemption on imported capital equipment, spare
parts, raw materials and supplies
- Exemption from wharfage dues, export tax, imposts or fees
- Additional deduction equivalent to 50% of training expenses,
chargeable against the 3% national government share in the 5%
tax on gross income
- Unrestricted use of consigned equipment
- Additional 50% deduction on incremental wages paid for the first
5 years
- Permanent resident status for foreign investors(initial investment
at $150,000 minimum
- Employment of foreign nationals
- Domestic sales allowance of up to 30% of total sales
- Exemption from SGS inspection
- Simplified customs procedures
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15. How many locators does the park already
have? |
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Globe Telecom Plaza, and the e Office One building, with NEC Software
Phils. and Tsuneishi Shipping as its lessees. |
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16. What is e Office One? |
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These are offices for rent in a one-storey structure that uses a
modular building system. Each module is 1,008 sqm. |
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17. What are the lease rates at e Office One? |
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P375 per sqm plus 10% EVAT. That’s $6.95 per sqm at the exchange
rate of P54.00 to $1. Monthly dues are at P35 per sqm or $.65 per
sqm. |
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18. Who developed Asiatown IT Park? |
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It was developed by Cebu Property Ventures & Development Corporation,
a subsidiary of Cebu Holdings, Inc. |
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