BPOs drive office space demand in PH — FILRT
The Business Process Outsourcing (BPO) industry remains the top driver of office space demand in the Philippines, according to Filinvest REIT Corp. (FILRT) President and Chief Executive Officer Maricel Brion-Lirio.
In its latest report, the real estate investment trust revealed that 91% of its tenants are BPO companies. They occupy a total of 240,998 square meters (sq.m.) of gross leasable area (GLA) out of over 300,000 sq.m.of the firm’s portfolio.
In anticipation of incoming provincial locators, FILRT said they are boosting its presence in Cebu to attract multinational and blue-chip BPO firms to its office developments.
In anticipation of incoming BPO locators, FILRT is also boosting its presence in Cebu and attracting multinational and blue-chip business process outsourcing (BPO) firms to its office developments.
FILRT President and Chief Executive Officer Maricel Brion-Lirio said, “…we are aggressively expanding our footprint and will continue to build sustainable premium BPO-ready developments in Cebu.”
Filinvest Land, Inc. (FLI), FIRLT’s parent company, owns three office buildings in Cebu at various stages of development and is 73% occupied by top global BPO locators. These may be infused into FILRT’s portfolio in the future once they are accretive to the REIT company.
“We are also in talks with some major global BPO players for an early pre-leasing of these buildings,” Brion-Lirio added.
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