Clark may well become the next Bonifacio Global City, according to property consultancy agency CBRE. This is because of the overcrowded offices in the central business districts in Metro Manila. Business process outsourcing firms end up seeking other leasing options for their operations.
In a briefing, Rick Santos, founder of CBRE Philippines, said Clark is a prime choice for BPOs because of the quality of its talent pool, economic incentives, and rapidly-progressing infrastructure.
Clark currently contributes marginally to the bullish outsourcing market of the Philippines, mainly because it lacks the basic requirements of BPO companies. Jan Custodio, CBRE Director of global research and consultancy, cited that BPO locators in Clark are seen operating in old buildings and warehouses that have gone through renovations to fit the requirements.
Clark can now be easily accessed through the Clark International Airport and better road systems like the North Luzon Expressway and Tarlac-Pangasinan-La Union Expressway.
Custodio said the retraction of incentives by the Philippine Economic Zone Authority (PEZA) is likewise expected to push developers to build offices outside the congested National Capital Region. He added that although Clark only houses smaller BPOs, the developments will help the area land bigger clients.