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Rising Property Value in PH Fuelled by BPO

by: Sarah Joson

Thursday, March 6, 2014 | Outsourcing News |

Outsourcing Services Sector Driving PH Real Estate Prices

Since the business process outsourcing (BPO) industry of the Philippines is expected to remain strong in 2014 and the country continues to prove that it is one of the premiere investment destinations in Asia, more office properties are set to be occupied. Experts, in turn, anticipate that property prices may increase in the near future.  
CBRE Philippines stated that property take-up will not be concentrated in Metro Manila alone, but will also be felt in the provinces. Metro Cebu, Mactan, and Clark were also identified as regions having the ideal environment for both leisure and business.

According to property analyst and program director for real estate and senior adviser for Wong Bernstein Business Advisory, Enrique M. Soriano III, emerging central business districts will be taking center stage as the office market continues to grow. Some of the non-CBDs are Davao, Cebu, and Iloilo.
CBRE Philippines noted that the growth of the local BPO sector is one of the key contributing factors to the accelerating property occupancy, alongside tourism and rising demand for expat housing.
Makati, Cebu, Boracay, and Bonifacio Global City are known to have properties that are sought after by the budding market, and CBRE said developers might look into investing in the segment.



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