by: Sarah Joson
Thursday, May 7, 2015 | Outsourcing News |
Bonifacio Global City (BGC), one of the central business districts (CBDs) in the Philippines, is set to launch more office spaces due to the strong demand in the business process outsourcing (BPO) sector.
According to KMC MAG Group, a real estate firm, the demand of office spaces from BPOs operating in the country will continue to rise since more companies are setting up and expanding operations.
KMC MAG cited its 2015 Metro Manila Property Outlook where it was stated that there will be nearly 560,000 square meters (sqm) of office space made available in CBDs this year - almost all of which will be found in BGC. Moreover, the outlook showed that BGC’s current office spaces stock reached 778,867 sqm, and 956,290 sqm are already in the works starting this year until 2018.
The office take-up in BGC declined by 44.1 percent to 94,500 sqm compared to 2013 where building turnover activity was particularly high. The report also revealed that office space rent in BGC is P850 per square meter.
One of the factors cited in the report as to why firms prefer BGC is because of the lower taxes imposed by the local government compared to other business districts in the country.
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