Philippine property developer Megaworld expects its office space, primarily leased to business process outsourcing (BPO) locators, to hit more than one million square meters by 2018. Office space accounted for 60% of Megaworld’s P9bn rental income in 2015. The company has launched three buildings for BPO offices within its 11-hectare mixed-used development in Davao thus far. For this year, the listed property developer is expected to have about 1.2 million square meters of leasable space, with 851,000 square meters dedicated for offices and 31,000 square meters for retail businesses. Megaworld is expanding outside Metro Manila, riding on the growth of its clients, mostly BPO locators.
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