BPO to continue boosting property market

Jones Lang LaSalle (JLL) said the property market in the Philippines is expected to further heat up in the next few years, driven partly by the robust growth of the business process outsourcing (BPO) industry. JLL, head of project leasing, and regional director Sheila Lobien said the Duterte administration’s ambitious rollout of infrastructure programs will also boost the property market. The government is embarking on a “Build, Build, Build” program, which is aimed at reducing poverty by 2022. Lobien said that the main driver of the property demand in the Philippines is really the outsourcing industry. She said that the continued positive performance of the offshoring and outsourcing industry will continue to support the growing demand for residential condominium.