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.”
Related news
- IT-BPM’s revenue forecast to reach up to US$32bn by 2022 · 12 Feb 2020
- Employability of PH graduates becoming issue for BPO industry · 11 Feb 2020
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.
