IT-BPM sector to benefit from office market resurgence — LPC
The Information Technology-Business Process Management (IT-BPM) sector is among the first to benefit from the resurgence of the Philippine office market, said Leechiu Property Consultants (LPC) Director for Commercial Leasing Mikko Barranda.
In a statement, Baranda said that about 358,000 square meters (sq.m.) of ongoing transactions are likely to be concluded in the next six months. More than half of this — or 195,000 sq.m.—- belongs to IT-BPM firms.
LPC reported strong demand for Philippine Economic Zone Authority (PEZA) – accredited buildings. For instance, Ortigas Technopoint Two along Julia Vargas Avenue in Ortigas Center has seen many inquiries for its few available spaces.
LPC Director for Commercial Leasing Miguel Manipol added that companies are driven to keep their operations costs low while providing a conducive work environment for their employees.
“Workplaces like Ortigas Technopoint Two, which is highly accessible via public transportation from the residential communities of Quezon City, Pasig City, and Mandaluyong City, are thus preferred locations,” he said.
Barranda added that this strategy is essential, “especially now that the industry employs 1.8 million nationwide, IT-BPMs seek work environments that are part of mixed-use communities to retain their employees.”
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