Colliers International Philippines said Cebu’s office property market is set for robust growth as demand from business process outsourcing (BPO) firms continues. In its report, Colliers said Cebu remains a preferred outsourcing destination because of the presence of adequate infrastructure, redundant internet connection, ample number of skilled college graduates, and a high level of urbanization. Colliers pointed out that Cebu is now the largest outsourcing destination outside of Metro Manila. In the first nine months of 2016, Cebu’s office stock rose 14% to around 875,000 square meters. Colliers said this is a result of developers anticipating a spike in demand for office space from BPO firms.
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