THE business process outsourcing (BPO) industry will experience a scarcity in suitable office spaces as early as mid-2020, after the government decided to limit PEZA-approved zones in Metro Manila.
“The supply is likely to constrict by mid-2020 when the current crop of new office spaces accredited by PEZA will have been taken up,” Phillip Anonuevo, executive director of Leechiu Property Consultants (LPC), said in a statement.
Mr. Anonuevo said as of the second quarter of 2019, Metro Manila office supply has kept up with BPO demand.
Century Diamond Tower in Makati is the only PEZA-registered building to open by the third quarter of this year. With 35,000 square meters (sq.m.), it offers “ample contiguous space that BPOs want in central business districts.
Despite the challenges, Mr. Anonuevo said he is bullish on BPOs’ continued expansion in the Philippines.
“They are now evaluating the prospects of growth outside Metro Manila. At the same time, we are hopeful that the government will remain responsive to their needs,” he said.