A local real estate consultancy firm has urged property developers in the country to not merely rely on the business process outsourcing (BPO) industry as target tenants. Prime Philippines managing director Jet Yu said diversifying the tenant mix guards against the risk of a sudden drop in rental income. That means that should the BPO market slows down or downsize, there will be other sectors that will absorb the surplus office space in the market, Yu said. He also stressed that office buildings in the country are not solely dependent on the BPO industry in terms of occupancy. Yu said property developers should make proper assessment, tenant planning and thorough studies before launching projects.
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