The enactment of the CREATE (Corporate Recovery and Tax Incentives for Enterprises) Law is seen to make office buildings accredited by the Philippine Economic Zone Authority more attractive for locators from the IT-BPO industry.
“CREATE provides I.T.- BPO companies certainty about their incentives, which helps justify their business case in the Philippines,” said PEZA Deputy Director General for Policy and Planning Tereso Panga.
He noted that, “Now that CREATE has been passed into law, existing PEZA companies have enough time to transition their operations from the existing Income Tax Holiday (ITH), to the sunset provision of 5 percent tax on GIE (gross income earned) for 10 years, to a 25 percent Corporate Income Tax.”
For new PEZA registered companies, a 4- to 7-year window is granted to enjoy the ITH, after which, they may enjoy the Special Corporate Income Tax (SCIT) or Enhanced deductions. The SCIT is 5 percent of GIE for a period of 10 years.
Thus, CREATE provides a framework that gives PEZA registered business, both old and new, the much needed predictability for their respective operations to continue in the Philippines.
Robinsons Land Corporation Senior Vice President and Office Buildings General Manager Jericho Go noted that the CREATE Law was passed just before the company’s Cybergate Galleria Cebu has been PEZA-certified.
A Presidential Proclamation has just been issued last April 8, 2021 declaring Cybergate Galleria Cebu as a PEZA-certified special economic zone.
“This means that businesses that set up their offices in Cybergate Galleria Cebu will no longer have to worry about what incentives are in store for them as it is now clear that they will continue to enjoy PEZA benefits, as provided for in the CREATE Law,” he added.
Strategically located within the Robinsons Galleria Cebu Destination Estate, the 13-storey Cybergate Galleria Cebu has 9 office floors ready for occupancy with a total gross leasable area of 19,500 square meters.
The building has large and efficient floor plates of about 2,100 square meters which will allow tenants to have more flexibility in designing their workspaces since it does not have awkward or odd spaces that need to be worked around.
Cybergate Galleria Cebu is in an ideal location as it is in close proximity to residential communities, schools, hospitals, hotels, commercial and lifestyle centers, and is easily accessible to public transportation. It is also just 12 kilometers away from the Mactan International Airport.
The 66,000 square meter Robinsons Galleria Cebu mall offers a world of convenience and leisure outlets for locators as it features a wide selection of retail, service, entertainment and dining options including Robinsons Selections, Robinsons Department Store, Robinsons Movieworld, Robinsons Appliances, True Value and a food court.
Cybergate Galleria Cebu also has a retail area at the ground floor which will also have food and service operators serving building occupants so they do not have to leave the premises.
Aside from these, Cybergate Galleria Cebu is also right beside the 220-room Summit Hotel and the upcoming 3-tower Galleria Residences Cebu. All these are in the 5-hectare complex along General Maxilom Avenue, Cebu City.
Also for the convenience of locators, there are parking spaces right within the building as well as ample space for a recruitment center to take advantage of the high foot traffic in the area.
The building is designed to operate 24 hours a day and 7 days a week and is equipped with 100 percent back-up power and has multiple telecom providers. It also has 4 high-speed elevators for ease of vertical transport. The VRF air-conditioning system allows tenants to save on electricity costs by giving them the flexibility to operate units in areas/zones that currently have operations.
As part of the sustainability thrust of Robinsons Land, Cybergate Galleria Cebu has green and sustainable building features such as LED lighting and water-efficient fixtures.
Meanwhile, for the safety of building occupants, the building has round-the-clock CCTV surveillance and security as well as a fire alarm detection system (FDAS), fire sprinklers, and smoke detectors.
For those wishing to reside in Cebu and within the complex, RLC also has condominium units for sale in Galleria Residences Cebu.
“Robinsons is passionate about creating LIVE-WORK-PLAY-INSPIRE Destination Estates in the provinces. We believe that doing so gives our countrymen equal opportunities to be employed where they live,” said Go.
He added that, “We envision that the good paying jobs coming from IT-BPM companies will help keep families together when job opportunities are created in their city. Cebuanos will no longer have to leave their families behind because they need to look for jobs in Metro Manila or in another country. They now have a viable employment alternative here.”
With the completion of Cybergate Galleria Cebu, RLC’s portfolio now has 26 office buildings of which 25 are PEZA-registered.
“While 16 of these are in Metro Manila, we now have a nationwide network with office buildings also in Tarlac, Ilocos Norte, Naga, Davao and Cebu,” said Go.