Commercial real estate breaks record to accommodate BPO in the Philippines

Commercial real estate breaks record to accommodate BPO in the Philippines

Julie Pearl Published on February 26, 2015

hardhats-construction-site-scaffolding
Continuing to set global commercial real estate records, Philippine-based property firms have been developing more office spaces to accommodate the ballooning business process outsourcing (BPO) industry in the country.

Colliers International Philippines released a report stating that local developers added 466,354 square meters (sqm) of corporate space in 2014, a rate that almost matched the all-time high of 467,030 sqm that the country developed in 2009.

call-center-team

The report added that in the next couple of years, the total area will reach 1.85 million sqm, with expansions concentrating on premier BPO hubs namely Makati, Ortigas, Bonifacio Global City, and Eastwood.

Top industry players Ayala Land and Megaworld confirmed that they have been ramping up supply following the shares hike they experienced last year. According to CBRE Philippines chairman, Rick Santos, more than 50% of the demanded office space for this year has already leased as early as February 2015.

What’s causing the surge?

The country’s affordable operating costs and vast availability of English-speaking workforce are pointed out as two factors inviting foreign companies to either relocate or outsource to BPO companies in the Philippines. The same factors are also seen as major contributors to the expansion plans of BPO companies currently leasing office spaces. Megaworld senior VP Jericho Go said in an interview that they already know the growth requirements of the almost 200 tenants in their portfolio. “And that prompts us to create the supply.”

Expected boom

The foreseen record-topping space consumption rate in Manila will not be an entirely new scenario. In the third quarter of 2013, Manila led Asia-Pacific nations in the office space absorption race. The year 2014 was also welcomed with a heightened demand for corporate offices as a result of the peso depreciation.

As real estate growth and increasing office demand are tied to BPO success, observers expect the property and outsourcing sectors to continue working hand in hand to propel each other s growth.

As one of Open Access BPO's content writers, Julie Pearl shares her BPO knowledge through her blog posts, research papers, and other resources. She writes about outsourcing news and call center management tips and insights.

0 responses to “Commercial real estate breaks record to accommodate BPO in the Philippines”

  1. Andrew Olano says:

    The trend continues and the improving US economy will boost the BPO industry more. It’s good for BPOs and better for Real Estate Developers. πŸ˜‰

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO1 day ago
Compared to most industries, #CallCenters are known for providing a fun and positive workplace for their employees.

But more than just making daily ops light and dynamic, the agents, the contact center, and the clients benefit from this: https://buff.ly/3UZf4i0

----------
Let's create a program hyper-customized for your brand's goals, needs, budget, and customer demands: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerService #EmployeeEngagement
Open Access BPO
Open Access BPO2 days ago
Making your #CallCenter agents happy boosts #productivity and elevates #CustomerExperience.
Here's how you can make their lives easier: https://buff.ly/3UQvadX

----------
It's #CSweek! Don't forget to express your appreciation to the awesome people assisting your customers. Celebrate the job they do!

Let's build you a well-engaged #outsourcing team: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerSupport #EmployeeEngagement
Open Access BPO
Open Access BPO2 days ago
It's π—–π˜‚π˜€π˜π—Όπ—Ίπ—²π—Ώ π—¦π—²π—Ώπ˜ƒπ—Άπ—°π—² π—ͺ𝗲𝗲𝗸, a weeklong celebration of the value of #CustomerSupport and the people who assist customers.

We recognize our people across Open Access BPO's international locations and celebrate them for the awesome work they do.

#WeSpeakYourLanguage
#CustomerServiceWeek
#CSWeek #CelebrateService
Open Access BPO
Open Access BPO4 days ago
#Gamification claims to lighten stressful jobs, but is this truly helpful in #TechnicalSupport?

Join us as we explore just how effectives this strategy is in the #CallCenter: https://buff.ly/3LU2M6p

----------
We build strategies that empower people and solidify brand loyalty for our partners: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerSupport #CustomerService
#EmployeeManagement #EmployeeEngagement
#CustomerExperience
Open Access BPO
Open Access BPO6 days ago
#CustomerService metrics indicate the level of service your brand is capable of providing.
They can also reveal just how effective your strategies are, including your
β€’ staffing
β€’ training
β€’ quality assurance, and
β€’ service/people management.

Metrics are more diagnostic than curative: https://buff.ly/3RiolyQ

----------
Make dismal #CustomerService a thing of the past when you outsource your #CustomerSupport needs: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CallCenterOutsourcing #CallCenters
#CustomerExperience
Open Access BPO
Open Access BPO1 week ago
Customers appreciate brands with #eCommerce websites that have #LiveChatSupport because of its convenience, speed, and humanized interaction.
You need to optimize these 4 features to make your #ChatSupport exceptional: https://buff.ly/3fhVflL

----------
Upgrade #CustomerExperience with our 24/7 multichannel #CustomerSupport solutions: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerService #eCommerce
Open Access BPO