bpo, real, estate, demand
BPO pushes higher real estate demand in the Philippines
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Business process outsourcing (BPO) will continue to grow in 2005 and spur demand in the real estate sector, the National Economic Development Authority said in a report.
In his fourth quarter 2004 report , NEDA Director-General Romulo Neri said the BPO industry would continue to grow by 15 percent in 2005.“BPO companies this year started getting more real estate to build their own facilities and thus pushed up the value of real estate,” Neri said. Several contact center operators have opted to build their own facilities rather than rent space in existing buildings. Among these operators are Teletech, Convergys, and Peoplesupport.
Based on figures from the Department of Trade and Industry (DTI), Neri said there nearly 80,000 call center agents are expected to occupy 40,000 seats this year as compared to the 35,000 seats in 2004.
Neri’s report said that the Philippines may have achieved a gross domestic product growth of 6.2 percent in 2004, better than the 5.8-percent target under the Medium-Term Philippine Development Plan of President Gloria Macapagal-Arroyo. Official growth figures will be released at the end of the month. Neri said the BPO industry was among the biggest contributors to growth.
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