Iloilo took up most of the business process outsourcing (BPO) space last year, Philstar reported, citing Leechiu Property Consultants’ market analysis.
The province absorbed 48,000 square meters, surpassing major business districts in Metro Manila, including Makati City, which represented 35,000 sqm, Ortigas Center in Pasig with 27,000 sqm, and Bonifacio Global City in Taguig with 24,000 sqm. Meanwhile, Cebu accounted for the take-up of 16,000 sqm of office space.
All in all, the outsourcing industry represented almost half of the office space demand, 191,0000 of the 389,000 square meters. Although the sector experienced the “slowest growth” in the last 20 years, Leechiu is optimistic that the vaccination program in Canada, the United States, and Europe will prove beneficial for the BPO sector in the Philippines.
Business Expansion Outside Metro Manila
While the capital region registered 57 percent or 109,000 sqm of the BPO take-up, Leechiu mentioned that companies are moving outside of Metro Manila to set up shop and expand. They identified Visayas and Mindanao provinces as potential growth areas. Cebu and Davao are among them.
In a separate report, Colliers International Philippines said in the Manila Times that the Cebu office market will benefit not only from companies setting up shop outside Metro Manila, but also from the Build, Build, Build program. It can be noted that the province is a recipient of big-ticket infrastructure projects, such as Metro Cebu Expressway, Cebu-Mactan Bridge, and Cebu Bus Rapid Transit.
According to Colliers, BPO spaces in Cebu are particularly appealing to firms because of the availability of fully-fitted offices.
Meanwhile, Davao stands to benefit as well from massive infrastructure initiatives. The Davao Coastal Road, Mindanao Railway Project (MRP), Davao Monorail, and the Davao Bus Rapid Transit (BRT) are set to make the region more connected, making it a more attractive business hub for BPOs.
Cagayan de Oro was also among the provinces Leechiu mentioned as growth areas for BPO companies. Cagayan de Oro Coastal Road, Iligan-Cagayan de Oro Connector, and the new seaport are among the recently developed transportation infrastructure in the province.
Other than urban areas in Visayas and Mindanao, Leechiu identified Clark and northern Luzon as alternative destinations for outsourcing operations expansion. The opening of the new terminal in Clark International Airport and the construction of the New Manila Airport in Bulacan will facilitate a more vibrant business and trade scene.
Residential Living in the Provinces
Meanwhile, in terms of residential spaces, the provinces have likewise attracted increased demand since the pandemic. Lamudi’s yearend report, Hotspots Unwrapped: 2020’s Most Popular Locations, revealed the top-searched provincial locations, namely Cebu, Davao, Bacoor, Antipolo, Angeles, Baguio, Dasmariñas, Imus, Calamba, and San Fernando.
Majority of these are Southern Luzon provinces eyed to experience development in the coming years as major infrastructure developments emerge in the areas. Some of these projects include Sangley International Airport, Cavite-Tagaytay-Batangas Expressway, Bataan-Cavite Interlink Bridge, North-South Commuter Railway, and LRT-6.
The preference for areas outside the capital region may be attributed to the growing demand for communities with open areas and properties with flexible living spaces. As Lamudi mentioned in its special report One Year Later: Are Property Seekers Buying Again, houses represented the largest share in terms of pageviews and leads in the second half of 2020.
Property Options at the Online Housing Fair
As the market flocks to areas outside Metro Manila, real estate players keep up with the new demands. Lamudi, for one, will be launching the country’s first and biggest online housing fair, featuring special deals on properties located in key locations.
ACM Homes, one of the developers lined up for the event, is set to feature houses and lots for sale in Iloilo. RLC Residences is expected to showcase properties for sale in Cebu, while Solar Resources will display high-quality houses and lots in Cavite. AboitizLand has listings in Cebu, Pampanga, and Batangas.
Accommodating all kinds of property preferences, the event will feature developers offering properties located in the capital region as well. This includes AboitizLand, Federal Land, Prime Homes, DMCI Homes, and PIK.
The online housing fair will kick off on May 3 and run until May 31. Property seekers can also find discounts and promos, while browsing through property offerings.
Webinars are likewise available, delving into a range of topics, from legal and financial matters such as housing loan options and land title concerns, to design, covering decluttering, plant parenting, and home office interiors.
Article and Photo originally posted by Lamudi last April 28, 2021.
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