According to Sheila Lobien, head of project leasing - markets of property management firm Jones Lang LaSalle, Bonifacio Global City as the emerging BPO hotspot. She said the high quality of office developments and location make it an attractive destination for BPO companies.
Leasing rates in BGC are said to be marginally lower than those in Makati. Office space at BGC ranges from Php700-900 per square meter per month, whereas in Makati, it costs Php600-1,200 per square meter.
Jones Lang LaSalle recently identified the business process management (BPM) industry as a crucial factor to the growth of the commercial space market in the Philippines. Outsourcing companies in Metro Manila comprise 80-90 percent of occupancy and reservations for office spaces.
Lobien added that at present, office space is over 168,000 square meters and pre-commitment is increasing - proving that the market is very optimistic. Of the 168,000 square meters allotted for office space, 52,000 square meters were taken up by BPO companies.