AREIT’s office segment remain resilient due to BPOs
The country’s first real estate investment trust (REIT) company AREIT Inc. assured the resiliency of its office segment, noting that 99% of its buildings are occupied and contracted long-term by business process outsourcing (BPO) tenants.
According to AREIT President and Chief Executive Officer Carol Mills, only less than two per cent of their portfolio’s office leases is expiring this year, making them “not directly exposed to market vacancy and possible rental adjustments at this time.”
Mills added, “Now that the global economy is recovering, the need for global outsourcing continues and could possibly even increase to manage operating costs.”
