BPOs to boost Cagayan de Oro’s property market
The Business Process Outsourcing (BPO) industry could help usher recovery in the property Cagayan de Oro’s property sector, said City Council’s Committee on Trade and Commerce Councilor George Goking.
During a briefing, Goking stated that BPOs are expected to create a stronger demand for office — both outside and within the National Capital Region (NCR) — as the Philippine economy gradually opens.
He added that similar to what happened during the pandemic, outsourcing will be a significant strategy to recover and rebuild the economy moving forward.
The adoption of hybrid work arrangements and the availability of IT parks and buildings registered with the Philippine Economic Zone Authority (PEZA) could also affect the investment strategies of companies, particularly BPO firms.
Moreover, Goking believes that the availability of tax incentives within PEZA and the Board of Investments (BOI) “will serve as a guide for the private sector on the potential investment priority areas in the city and the region.”
Goking’s statement was released during the process of formulating the Regional Development Plan (RDP) for Cagayan de Oro (CDO) City.
CDO’s other priority investment areas are bottling beverages, and food processing charcoal, while under trade and services are ICT, banking and finance, education, bank services, logistics SMEs, and contracting services.
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