The country's business process outsourcing (BPO) sector is driving growth in the local office leasing market with an estimated average yearly demand for office space of 250,000 square meters.
The growth is expanding to other cities, aside from the large business districts of the metropolis, says Lindsay Orr, chief operating officer of real estate leasing firm JLLL.
“With the growth of the BPO sector, office developments are certain to improve in quality, thanks to strong demand and healthy competition. BPOs are looking for locations that can offer them more: Retail amenities for employees and extras such as security access card and modern intrusion detection systems,” explains Orr.
Among the benefits that attract prospective employees to a BPO company is its strategic location, especially to public transportation, says Philip Anońuevo, JLLL associate director.
With the continued expansion of the country's BPO sector, real estate developers have to offer more than the standard fare of telecom infrastructure and emergency gensets.