New BPO Hub in Ilocos Norte Completed
FEB 01 – Robinsons Land Corp (RLC) has completed the expansion of Robinsons Place Ilocos in San Nicolas, Ilocos Norte. The expansion building will serve as a new hub for the business process outsourcing (BPO) sector in the province. It features large office floor plates of about 3,100 square meters with a total leasable area of 7,830 square meters.
The new hub targets BPOs which are setting up offices in new growth areas outside the metropolis, RLC said in a statement. BPO companies can locate in the provinces to take advantage of less competition for talent, lower office rental rates, and a lower cost of talent, said RLC office building division general manager Faraday Go
AXA to Open Shared Service Center in Manila
FEB 01 – Paris-based global insurer AXA is set to open shared service centers in the Philippines and Malaysia. Officials said the move is consistent with the company’s overall strategy to stay at the forefront of innovation. According to the company, a shared service hub will be opened in Manila and in Kuala Lumpur.
Up to 300 jobs are expected to be generated by the Shared Services Centre in Manila. These centers are envisioned to help fulfill the company’s future-ready business strategy in the region. Marc Blottiere, AXA Asia regional chief operations officers, said the company aims to enable business transformation and innovation by leveraging on technology in Asia.
BPO Industry Continues to Need More Property Development
JAN 30 – Real estate consultancy firm Santos Knight Frank has announced that property developers are expected to add around 1.5 million square meters of leasable office space in Metro Manila. The additional development is expected to supply demand from the business process outsourcing (BPO) sector.
The additional office space due to come onto the market this year is said to be 25% more than the 1.2 million sqm realized in 2016. Morgan McGilvray, Santos Knight Frank senior director for Occupier Services and Commercial Agency pointed out that BPO companies still drive the demand of which American and Australia companies continue to be the main drivers of growth in the sector.
British Traders Bullish on Visayas Economyings
JAN 29 – The British Chamber of Commerce Philippines (BCCP) will hold a trade mission in Iloilo City, in the Visayas, this March to look for possible investment opportunities. BCCP chairman Chris Nelson also announced that the mission is targeting the Visayas because it is where growth in the regional economy is expected to outpace that of the entire country.
Nelson told ANC’s Market Edge that GPD in the Visayas region is likely to grow 8% to 9%, this year, faster than the 6% to 7% forecast for the national rate. Nelson said that as a result, the British chamber’s members are spreading into the Visayas, as they look to the advantage of the greater growth anticipated.