BPO, gaming firms spur office space demand
Business process outsourcing (BPO) and Philippine Offshore Gaming Operators (POGOs) firms are driving up demand for office space in Metro Manila. According to global real estate services company Colliers International, the Philippines office sector remains strong with a net take-up of 810,000 sq m during the January to September period. That’s an increase of 440,000 sq m in office space from last year. Colliers projects a net take-up of 344,000 sq m in the fourth quarter that will result in an all-time high of 1.15 million sq m. The demand was attributed to the expansion of BPO firms in the first three quarters. In a BusinessWorld report Colliers research manager Joey Roi Bondoc said BPO companies have regained confidence in doing business in the Philippines. He said BPO firms are now expanding outside of Metro Manila, including in Cebu and in Clark.