BPOs set to expand outside NCR — Damosa Land
The growth of the Philippine office segment this year could be driven by Business Process Outsourcing (BPO) who are expanding their operations outside the National Capital Region (NCR).
According to Ricardo Lagdameo, President of property developer Damosa Land, “we are starting to see that demand is coming in. If we look at the last major crisis we had, which was the financial crisis in 2008, right after that was when the BPO industry took off. I think the same thing is happening now.”
He explained that all of the companies — particularly American firms — “are looking to streamline and save on costs and we are probably one of the top two BPO destinations in the world.”
Lagdameo also confidently claimed that 2022 will be the start of a “true, meaningful recovery” for the local office market.
While January may have been disrupted by the Omicron variant, the easing of mobility restrictions during February and March helped spike the sector’s sales.
Lagdameo noted that the demand came from several factors — including the people’s openness for real estate investment.
“When people were allowed to go out, meet with brokers and developers, it seems they were ready to execute,” he added.
