EXCERPT

“The IT-BPO (information technology-business process outsourcing) industry will remain resilient and will continue to pave the way for long-term office space demand across the country being driven by the countries attractive labor demographics,” he added.

Santos Knight Frank Occupier Services Senior Director Morgan McGilvray said the office market will see “reliable demand” from the BPO sector.

“Probably not as much demand as was seen in the post-global financial crisis period in 2011 to 2012, but I’d expect more demand in 2022 than we’ve seen in 2020 or 2021,” Mr. McGilvray said in an e-mail on Dec. 15.

David T. Leechiu, president and chief executive officer at Leechiu Property Consultants (LPC), said in a virtual call on Dec. 15 that firms abroad “cannot wait to enforce these new cost-cutting measures,” which already includes offshoring jobs to the Philippines.

READ FULL ARTICLE