BPO office takeup in PH to grow further, says Colliers
MANILA, PHILIPPINES — The demand from the Information Technology And Business Process Management (IT-BPM) industry for office spaces in the Philippines is not expected to slow down, said property consultancy firm Colliers.
During a market briefing, the company stated that more growth would come from this sector as new players enter the market and others expand, spurring countryside development.
According to Colliers’ 2022 data, IT-BPM companies took up about 256,000 square meters (sq.m.) in Metro Manila. This corresponds to about 43% of the total office transactions in the country’s capital.
The firm added that outsourcing companies are still drawn to the country’s capital, Metro Manila, with most moving to Bonifacio Global City, Ortigas Center, and North Bonifacio.
Colliers’ report also noted that Knowledge Process Outsourcing (KPO) companies had the highest demand compared to Business Process Outsourcing (BPO) and voice companies, particularly in the third quarter due to the various expansions of global in-house centers (GICs).
Colliers also noted the emergence and steady increase of office space demand from health information management services (HIMS), accounting for 13% of the total IT-BPM expansions in the country.
Colliers also expects that the ongoing rightsizing and hybrid work setup will continue influencing The Philippine office market in the coming years.
