News » Megaworld allots PHP300bn to buy more land for BPO offices

Megaworld allots PHP300bn to buy more land for BPO offices

Megaworld allots PHP300bn to buy more land for BPO offices

Property developer Megaworld has reserved PHP300 billion in capital spending for 2020 to 2024 to purchase more land to cater to the rising office space demand from the business process outsourcing (BPO) sector outside Metro Manila. Kevin Andrew L. Tan, Megaworld senior vice president for commercial division, said the company will add 2,000 hectares of land by next year to drive its expansion, amid the continued growth of the BPO industry.

Tan said Megaworld also plans to begin selling office space to BPO firms outside the capital, instead of only renting space to them. This is a format that the company will expand due to higher margins and strong demand.

The company said it will spend 65% – PHP196 billion – of its capex allocated for residential and investment projects that include offices, malls and hotels. The remaining 35% will be used for land acquisition and land banking.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.