MANILA, Philippines – The business process outsourcing (BPO) industry may soon overtake dollar remittances from overseas Filipinos in terms of revenues given the continued strong demand for office space, a real estate market consultancy firm said.
In 2014, the BPO sector registered $18.9 billion in total revenue and is forecast to grow between 15 percent and 18 percent for 2015.
Pinnacle Real Estate Consulting Services Inc. said the industry is expected to further grow this year with revenues projected to hit $25 billion.
According to Pinnacle, revenues from call center firms and outsourcing centers could soon grow faster than inflows from overseas Filipino wokers.
At present, the Philippines remains the top destination for IT-BPO firms given the educated talent pool, excellent infrastructure, cost competitiveness, and adequate government support for the industry.
Pinnacle said the next 10 cities for BPOs are Baguio City, Davao City, Dumaguete City, Iloilo City, Lipa City, Metro Bulacan (Baliuag, Calumpit, Malolos City, Marilao and Meycauayan City), Metro Cavite (Bacoor City, Dasmariñas City and Imus City), Metro Laguna (Calamba City, Los Baños and Sta. Rosa City), Metro Naga (Naga City and Pili), and Metro Rizal (Antipolo City, Cainta and Taytay).
In terms of BPO space, Pinnacle said there has been a take up of approximately 200,000 sqm of office space in the past three months, most of which were pre-leased.
“Makati office spaces still command the highest rents, but with the influx of modern Bonifacio Global City (BGC) buildings, there is a slight downward pressure on Makati rents,” Pinnacle said.
Pinnacle noted that some Grade B&C buildings, and even Grade A buildings are slightly lowering their asking rates due to competition from newer and better stocks in BGC, and other CBDs.
The weighted average rent in BGC of P870 per sqm per month is comparable to slightly higher when compared to Makati Grade A buildings.
The average rent of Grade A office buildings in Ortigas, Alabang, Quezon City, and Bay Area business districts is estimated at P650 per sqm per month.
On the other hand, in Cebu and Davao, average Grade A office rent is P450 per sqm per month. –Iris C. Gonzales (The Philippine Star)
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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