BPO sector lifts demand in office property market

CEBU, Philippines -  The continued expansion of the call center industry and more professionals operating firms have maintained a robust growth in the office property market.

Cebu Landmasters Inc. chief executive officer Jose Soberano III said the strong market demand for office spaces comes from business process outsourcing companies and other investors.

Cebu’s growing economy and improving business climate have also driven good prospects for the office market. The quality and in-demand manpower has also invited call center investors, he said.

Office and business buildings continue to rise in Cebu’s metro area particularly in the IT Park where the company’s Park Centrale is being constructed for completion toward the end of second quarter of this year. 

“This [IT Park] is going to become the most in-demand place for BPO investments,” he noted.

“We have around 50 locators in this building,” the CEO said yesterday when the company topped off the 19-storey vertical project. Two BPO locators are expected to operate in the building when completed later this year.

CLI initially invested P800 million for the office building development.

The local developer said it planned to build one or two more office buildings in the next two years in Cebu Business Park or IT Park. (FREEMAN)