One Asia Development Corp. yesterday said it is investing P100 million for the first phase of One Asia Business Center, an information technology park and commercial center project in Biñan, Laguna.

Victor Manarang, president and chief executive officer of One Asia, said it will launch Bellevue Hotel in the first phase of the multi-million-peso IT park on April 26.

The first phase of the project, which covers four hectares out of the 10-hectare Laguna property, is expected to bring in sales revenues amounting to P450 million this year.

Manarang said they have already attracted several restaurant operators such as Jollibee and Max’s and also cafes in the area.

The company expects a market of more than 900,000 consumers in the industrial towns of Biñan, San Pedro and Sta Rosa.

Manarang said site development involves three phases, the first phase having been started in September last year and to be completed this May.

The second phase will start in the third quarter and is expected to be finished by the first quarter of 2009.

The third phase will start in the second quarter of 2009 for completion by the fourth quarter of the same year.

The IT park is located within Jubilation New Biñan, making it highly accessible to Metro Manila through two major highways – South Luzon expressway through Malampasan exit and the national highway.

One Asia is currently selling commercial lots with lot areas of 600 to 700 square meters priced at a range of P8.9 million to P10.5 million and retail lots of 200-400 sqm at P3 million to P7 million.