With the economy opening up in the Philippines due to the slowdown in Europe, Leechiu Property Consultants (LPC), a leading real estate company, has identified seven regions favorable for expansion in the Business Process Outsourcing (BPO) industry.
The real estate consultancy has listed Aklan’s Kalibo, Batangas City, Bohol’s Tagbilaran, Bulacan’s Meycauayan, Cagayan’s Tuguegarao, Leyte’s Tacloban and Pangasinan’s Dagupan as the obvious choice for expanding operations for top BPO companies, given that big cities are slowly running out of space to accommodate expansion plans. LPC predicts that due to the on-going infrastructural development and available human resources in these provinces, it will be easier for small and mid-sized BPOs to establish their businesses effectively. In fact, it will encourage tourism and open the market for other businesses in these seven regions.
With the availability of offices at 4% in Manila, the real estate company foresees BPO companies looking for spaces in other nearby provinces. Since the BPO industry pushes the real industry, LPC believes that over the next six years, the office space will be filled to the brim of 1.95 million square meters, keeping in the mind the expected doubling of employees to 780,000.