For the coming year, the local real estate sector is seen to remain strong, according to CBRE Philippines, a real estate consultancy company.
Rick Santos, the organization’s chairman said this is the best break the industry has seen for the past two decades, with the constant growth and success. Moreover, he said there’s no problem in finding residential and leisure property buyers. The challenge, according to him, is to maintain the industry’s success.
Meanwhile, the vast growth of the business process outsourcing (BPO) industry of the Philippines, which is similar to India's BPO success during the early 90s, largely contributes to the Philippines’ advantageous position in Southeast Asia for the office and commercial industry.
Santos also noted that apart from the country being the global leader for voice processes and second for non-voice services, other areas can be reinforced for the industry’s growth. These include software and web graphics development, information technology and engineering services, as well as healthcare BPO. A growth rate of 10-15 percent is also predicted for the sector in 2016.
Some of the factors that make the country a feasible outsourcing provider in Asia include the large pool of skilled workforce, affordable leasing rates for properties, among others.