BPO industry drives record take-up for premium offices in 2015

The business process outsourcing (BPO) industry drove a record take-up of premium grade office space in 2015, according to a report released by real estate services firm KMC MAG Group. The firm said a record 435,000 square meters of premium grade office space was taken in 2015, with BPO companies Accenture, HTL, Tata Consulting and others taking up 400,000 sqm of premium grade office spaces. For this year, KMC MAG Group expects a similar level of take-up. The Makati central business district remainsthe top location, but the Bay Area and Quezon City are making progress as choice locations for BPO firms. With the rising demand for office space, major developers in the country are expected to invest a total of P369bn in capital expenditure this year.