Megaworld says BPOs blunted impact of COVID-19
Property giant Megaworld Corporation said that business process outsourcing (BPO) companies helped shield the company from the full impact of the pandemic. Ninety per cent of the firm’s tenants are BPOs and corporate offices of multinationals.
According to chief strategy officer Kevin Tan, BPOs in Metro Manila were shifting to locations outside the capital amid the pandemic. He said, “Our current portfolio of active BPO tenant partners is still huge, and these are our first-line takers in our provincial developments.”
Despite the boost provided by offices, Megaworld said rental income in the first semester of 2020 declined 11 percent to P7.2 billion. Real estate sales during the period also dropped 29 percent to P14.3 billion.
Related news
- Businesses observed “gradual and phased recovery” in June · 13 Aug
- Bacolod City closely monitors BPO firms adherence to protocols · 13 Aug
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
