Asian industry magazine Property Report has named the Philippines as a “solid performer” in real estate in the past year mainly due to the country’s robust business process outsourcing (BPO) industry. The magazine named the Philippines and Vietnam as the strongest performing markets in Southeast Asia in 2015. In a statement, Property Report said that while analysts are seeing a slight slowdown in the Philippines this year, they still predict plenty of factors to be positive about. The country’s office market, it added, will likely to be the beneficiary of a thriving BPO sector. In a separate interview with The Manila Times, Sigrid Zialcita, Cushman and Wakefield managing director of Asia Pacific research, said the country’s BPO sector will continue to grow in the next five years.
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