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[av_heading heading=’Iloilo City named one of BPO’snext 10 markets’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”][/av_heading]
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ILOILO City – Iloilo City has caught the eye of a consulting firm as the next investment center for business process outsourcing (BPO) sector as growth expansion started to shift to the countryside from saturated big capital cities.
“The robust demand for office space from BPO industry is changing the landscape of a number of cities. Pinnacle Research cited industry sources who are now gearing up for the ‘Next 10 Cities.’ With the push of President Rodrigo Duterte to disperse spending and growth, development of these ‘Next 10 Markets’ is likely to happen sooner,” the company said in its Market Insight for third quarter.
These cities are Baguio City, Davao City, Dumaguete City, Iloilo City, Lipa City, Metro Bulacan (Baliuag, Calumpit, Malolos City, Marilao and Meycauayan), Metro Cavite (Bacoor, Dasmariñasand Imus), Metro Laguna (Calamba, Los Baños and Sta. Rosa), Metro Naga (Naga and Pili), and Metro Rizal (Antipolo, Cainta and Taytay).
Mayor Jed Patrick E. Mabilog said the citation affirmed the city’s growing reputation as ideal investment destination, boosted by big pool of manpower, conducive business climate, competitive cost, best built infrastructure, established utilities, peace and order, local tax incentives, streamlined permit processing, and good governance making the metropolis among the most business-friendly in the country.
He hoped the promotion will attract additional locators to settle and expand here to create more employment opportunities for the Ilonggos and generate multiplier effects to the local economy to benefit many people.
Iloilo City was recognized as the Center of Excellence for Information Technology-Business Process Management (IT-BPM) operations by IT-Business Process Association of the Philippines (BPAP) and Department of Information and Communications Technology (DICT).
BPO companies are choosing healthy demographics and relatively developed infrastructures as key criteria, Pinnacle said.
Apart from office spaces, these markets would probably experience developments of residential and commercial-retails spaces, and perhaps, hotel rooms as well, it added.
The new IT-BPM Road Map 2017-2022 is scheduled to be made public by October.
While the industry in the past decade has been phenomenal, experts are saying the growth in the next five years would range between 12-18 percent, or two to three times the world’s average of 6 percent annually, Pinnacle forecasted.
Buoyed by this continuous growth, real estate developers are relentless in building and delivering office spaces. It is still a landlord’s market, and given the low vacancy, rents have been increasing and albeit plateauing in recent months. The initial fear of softening rents may still be averted due to brisk demand, the realty advisor stated.
Pinnacle Real Estate Consulting Services, Inc. provides a full range of services to buyers, real estate lenders and investors with a team of experienced professionals dedicated to enhancing the value of clients’ investments throughout the Philippines. (PNA)
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