IT-BPM drives 48% of office demand in 2021
The Information Technology and Business Process Management (IT-BPM) industry accounts for 48% or 257,000 sqm of the full-year office demand in the Philippines, boosting the sector into recovery, said real estate brokerage company Leechiu Property Consultants (LPC).
Of the total IT-BPM office take-up in 2021, 63% came from Metro Manila while 37% was from the provincial sectors.
Most expansions and new leases in the capital happened in the Ortigas, Mandaluyong, and San Juan clusters with 30% or 48,000 sqm of office take-up.
Meanwhile, despite the six per cent contraction in regional offices, Iloilo had the second most IT-BPM demand in the country with 46,000 sqm.
For the fourth quarter of the year, the IT-BPM sector recorded a total of 132,000 sqm, 60% of the total live requirements for the period.
LPC is expecting that about 224,000 sqm of new spaces will be completed over the next six months.
