Recently cited as among the top companies in the country for best practices in corporate governance, Ayala-led Cebu Property Ventures and Development Corp. (CPVDC) commemorated its silver year in the Philippine Stock Exchange (PSE) last March 3. The property firm debuted on the stock market on March 3, 1992.
CPVDC is a full-line real estate company which was initially a joint venture corporation between the Province of Cebu and Ayala Land. It developed what was then the old Lahug Airport in Cebu City into the Cebu IT Park, now home to 70 percent of Cebu’s BPO industry.
“We started operations in Cebu almost three decades ago because we recognized then the growth potential for business and the IT industry in the region and knew that Cebu was the right place to start,” CPVDC chair Bobby Dy said in his message.
“By 2019, with projects already under construction, we will double our existing leasing portfolio and significantly increase recurring income, as well as enhance the offerings in our development,” Dy added.
Among CPVDC’s current projects is Central Bloc, a stacked 2.2-hectare development that will consist of office, retail, and hotel components, all in the center of Cebu IT Park. Once completed, the development is envisioned to create a better work and lifestyle experience for the city’s young business professionals.
The PSE recently recognized CPVDC as among the Top 5 Listed Companies For Excellence in Corporate Governance in the last PSE Bell Awards for the company’s best practices in corporate governance.
“CPV is a prime example of how property companies should serve as conduit to economic investment… (It) has provided Cebuanos, and companies that established headquarters in the IT Park, the efficiency and productivity of being in a mixed-use development,” said PSE chairman Jose T. Pardo, in his welcome remarks during the ceremony. (SUN STAR CEBU)