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Demand for Office Space in PH BPO Remains High

by: Sarah Joson

Tuesday, September 30, 2014 | Outsourcing News |

Philippine BPOs Remain as top Office Space Clients

According to CBRE Philippines Inc., a renowned property consultant, the business process outsourcing (BPO) sector is still the main source for the demand of office space in the Philippines. Morgan McGilvray, Associate Director of CBRE Philippines Inc., said the total vacancy rate fell from 3.3 percent during this year’s first quarter to 2.45 percent. Over 400,000 sqm of new office space will be available for bidding within the year.  

McGilvray added that he’s looking forward to 2016 because of the anticipated large volume of space that his clients can choose from. He added that demand for office space, particularly for BPO operations in the country, will not be slowing down anytime soon because firms are expanding and are working on establishing their second sites. John Corpus, Director of the global corporate services team of CBRE Philippines Inc., said companies are monitoring new stocks of offices that will be available in 2015 and 2016.

Rick Santos, chairman, founder, and CEO of CBRE Philippines Inc., highlighted that with the 700,000 sqm of leasable office space in the country this year, 80-90 percent is accounted for by the BPO sector. He added that in the coming years, nearly 500,000 sqm of office space will be available. Next year, bulk of new office spaces will be launched in Fort Bonifacio, while other mainstream BPO hubs such as Quezon City, Ortigas, Makati Central Business District, and Alabang are expected to be home to new offices.

The central business district with the least office space available is Quezon City, where only 0.07 percent is available for office take-up.


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