The government proclaimed a new IT park in Cebu, after the Philippine Economic Zone Authority (PEZA) signed the registration of Midland Development Corp. as the ecozone developer.
“With new developer/operator entrants like Midland Development Corp., we are more able to provide new competitive and alluring location options for prospective locator enterprises. This brings us closer to our goal of eco-zoning the Philippines towards inclusive and sustainable development, particularly in the countryside—para sa Bagong Pilipinas,” said PEZA director-general Tereso Panga.
President Ferdinand Marcos Jr. signed Proclamation No. 529 on May 2, 2024, designating a building and two parcels of land on Cardinal Rosales Ave. in Barangay Luz, Cebu City, as the future site of the Taft East Gate IT Park.
The Taft East Gate IT Park is strategically located within the bustling Cebu Business Park, a prime hub for businesses, retail establishments and leisure facilities. Land development is estimated to cost almost P400 million.
Its proximity to major transportation routes and commercial centers makes it an ideal location for technology companies seeking to establish a presence in Cebu.
The development is expected to generate numerous employment opportunities and stimulate economic growth in the region. It will also contribute to the overall development of Cebu’s technology ecosystem, attracting both local and international tech companies.
