Real Estate - Updates on the Philippine BPO sector

We all know that the Philippine BPO sector is one of the key drivers of our economy in the recent years. Despite the global economic downturn, there is still evidence of growth in our local BPO industry. However, for this year of 2009, the construction of Business Process Outsouring office spaces have been trimmed down by half, according to a recent report from local stockbroker Citiseconline and Int’l Property Consultant Jones Lang Lasalle Leechiu.

According to Claro Cordero Jr., head of research at Jones Land Lasalle Leechiu, available Philippine BPO spaces have been sliced in half from 200,000 square meters to 100,000 square meters. This means that there is more chance of these spaces being taken up quickly. However, these figures may not represent the whole picture, as major developers Megaworld and Filinvest Land will be putting up 90,000 and 35,602 sqm of BPO space by this year as well. In addition, Colliers International has reported that more BPO spaces are planning to be rolled out by the next two years. In 2010, 132,279 square meters of space should be put up, while in 2011, 304,295 square meters should be additionally available.

What do all these figures mean? It still goes to show that the Philippine BPO sector will continue to experience growth and contribute greatly to our economy. Also, since there will be more spaces available, prices of these spaces will tend to go down due to more supply in the market. Let’s just hope that this trend continues in the long term so that more Filipinos can provide for their families…

http://www.realestatephilippinesblog.com/updates-philippine-bpo-sector/