SM Prime remains bullish on BPO sector

SM Prime Holdings, one of the country’s premier property developers, is building a business process outsourcing (BPO) tower in front of the SM City Southpoint mall in Iloilo City. The new BPO building further underscores SM’s bullishness on the prospect of the country’s BPO sector. According to SM Prime director Hans T. Sy the country’s BPO sector remains vibrant despite the possible impact of US president-elect Donald J. Trump’s policies. He said the BPO labor cost in the Philippines, which is substantially cheaper than in the US, will keep American outsourcing companies here. Sy added that SM has much confidence that the Philippine BPO industry will still grow in the future, particularly considering that the market being served by the Philippines currently is still a small fraction of the total global customer base. The new BPO building in Iloilo will have a gross floor of 45,000 square meters and is targeted for opening by 2017.