Increased demand for office spaces

Anticipating a sustained demand that will continue till the year end, Ayala Land Inc. (ALI), the property unit of Ayala Corp, aims to raise its inventory of office space to 825,000 square meters. Citing the on-going expansion of Business Process Outsourcing or BPO services industry, the real estate company predicts that the requirement of contractual office spaces will only keep increasing. Also, the company is more than ready to meet the constant demands of BPO Philippines.

ALI has recently raised ??15 billion as part of a planned debt securities program which is set to run for three years and will total ?50 billion. It is understood that this capital has been raised to back its expansion of outsourcing services policy. With the completion of projects such as Alabang Town Center BPO facility, Bonifacio Stopover and BGC Corporate Center along with additional space at Quezon City’s UP-Ayala Land Technohub and Cebu IT Park, the real estate company now enjoys 715,000 square meters of contractual area.

Currently, ALI focuses on converting properties such as Ayala Center Cebu and Ayala Center in Makati City as well as Taguig’s Bonifacio Global City and Laguna’s Nuvali. This project spans over 6,000 hectares of property.