BPO to continue pushing demand for office space

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Leechiu Property Consultants (LPC) said demand from business process outsourcing (BPO) companies is expected to push take-up of new supply this year despite the US risk to the BPO industry. LPC CEO David T. Leechiu said a total of 1.3 million square meters of office space will be completed this year. With demand from BPO firms hitting as much as 750,000 sq. m., topping last year’s 630,000 sq. m. record. Leechiu said the figures are a very powerful indicator. Property firms are also putting on a brave face amid uncertainty. For instance, property giant Ayala Land, Inc is keeping its target to double its office footprint to 1.5 million sq.m. by 2020, as BPO demand continues to be bullish.