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CEZA Fully Leases Office Spaces, Driving Growth in the Freeport

Since May 2024, the Cagayan Economic Zone Authority (CEZA) has successfully leased out all 9,000 square meters of its available office spaces, marking a milestone in its infrastructure development initiatives. The CEZA Commercial Center and CEZA Corporate Center, completed in 2022, have been instrumental in driving business activities within the Cagayan Special Economic Zone and Freeport (CSEZFP) Business District.

The CEZA Commercial Center, the largest infrastructure in the Freeport by floor area, spans an impressive 6,212 square meters. The CEZA Corporate Center, offering 3,844 square meters of prime office space, has already leased approximately 3,000 square meters to private enterprises. These facilities are more than just office spaces— they are integral to CEZA’s strategy to attract and support businesses in the Freeport.

Financial Gains and Operational Benefits

These infrastructure projects are set to generate over ₱50 million in annual revenues, with the Commercial Center contributing ₱38.7 million and the Corporate Center adding ₱12.2 million. The anticipated return on investment (ROI) stands at 7 years for the Commercial Center and 9 years for the Corporate Center, underscoring the financial viability of these ventures.

Additionally, CEZA has established its operational hub on the third floor of the Corporate Center, enhancing its capacity to engage directly with stakeholders and oversee its growing portfolio of projects.

Attracting Reputable Leaseholders

Notable tenants include Landbank and Banco de Oro (BDO), which have opened their first branches in the Freeport, reflecting the increasing trust in CEZA as a hub for business and financial institutions. These developments highlight CEZA’s success in positioning the Freeport as a strategic growth destination.

Meeting Growing Demand

The high demand for office spaces in the Freeport signals its rising appeal to businesses. To accommodate this growth, CEZA is planning to expand its infrastructure offerings with new facilities. Furthermore, the agency is developing a state-of-the-art data center, to address the region’s burgeoning need for IT and data-driven infrastructure.

A Vision for the Future

CEZA’s efforts to create a business-friendly environment are yielding substantial dividends. The full lease of its commercial properties signifies a promising future for the Cagayan Special Economic Zone and Freeport. With expansion plans underway, CEZA is poised to strengthen its role as a key driver of regional development and economic growth.

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