The business process outsourcing (BPO) industry in the Philippines is boosting the growth of the office space market in the country.
Property consultancy Jones Lang LaSalle's Sheila Lobien, head of project leasing - markets, said in report published in abs-cbnnews.com that BPO firms make up 80 to 90% of pre-commitments and supply take-up of Metro Manila office spaces.
The consultancy recorded 168,000 square meters of office space committed in the first six months of 2013. Of this total figure, 52,000 square meters are for outsourcing firms.
"Right now pre-commitment is growing, which means the confidence is there. The BPO market is driving this demand," Lobien said in a press briefing held recently.
Some of the most popular Metro Manila locations for BPO firms are Bonifacio Global City, McKinley Hill, and Quezon City. Lobien said in the same report that outsourcing firms find Quezon City an attractive location because of its labor pool.