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PH Commercial Real Estate Grew 18%

by: Sarah Joson

Wednesday, December 26, 2012 | Outsourcing News |

Philippine BPOs a Major Market Segment for Office Space

The Philippine commercial real estate segment grew 18 percent from the average demand of 360,000 square meters (sq.m) to 425,000sqm. during the months of January up to November this year. It is projected to reach 430,000sqm by the end of December according to global real estate services firm Jones Lang LaSalle (JLLL).

Sheila Lobien, Director for Project Leasing at JLLL, said apart from local business process outsourcing (BPO) companies, multinational companies (MNCs) and local firms are also considered as major market segments for office spaces in 2012. In fact, these segments account for 25 percent of the current demand, which translates to 100,000sqm.

Meanwhile, the national director for markets, Lizette Tan, said BPOs can still customize architectural design according to the requirements of their respective infrastructure. Buildings will also be strategically located to be near residential areas.


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