SM to complete four BPO towers this year

SM Investment Corp announced plans to complete four additional business process outsourcing (BPO) towers with a total leasable space of 131,572 square meters. These BPO towers are located in SM Cagayan de Oro, SM Southmall Tower, SM Bacolod, and SM San Pablo. The company recently opened two BPO towers. It has 27 total available sites for BPO buildings. SM Investment Corp allocated P73bn for 2017 capital expenditures to finance the expansion of its property, retail and banking businesses. These planned BPO towers are expected to boost the company’s recurring earnings. The BPO towers will be developed within SM malls.