Metro Cebu has remained a viable alternative office destination for business process outsourcing (BPO) firms, despite recent calamities, property consultancy firm CBRE Philippines said last week.
This optimism stemmed from reports of continued operations at its properties and client offices in key cities in the Visayas despite the devastation wrought by Supertyphoon “Yolanda” in parts of Leyte and Samar early November and the 7.2-magnitude earthquake in Bohol last month.
“We have reviewed and verified reports from all of our property and facilities management sites that our clients were fortunately largely unaffected by the typhoon, and it has not caused a related slowdown in office and BPO operations across the country,” CBRE Philippines chair and founder Rick Santos said in a statement.
CBRE Philippines manages a portfolio of BPO property and facilities management of around 83,700 square meters across Visayas—specifically in Cebu, Bacolod, Dumaguete and Iloilo.
Responsive and reliable back-up power generation and telecommunications resources of client companies ensured the continued operations in BPO offices.
CBRE Philippines also explained in its recent Cebu Marketview report that Metro Cebu remained an attractive office destination because of “cost-effective operational factors” such as office rental, and also the presence of untapped, high-quality workforce.
Property developers, the company added, were responding “enthusiastically” with continued offerings, confident in such sustained demand from BPOs. The residential market has responded with a more diversified pricing portfolio for its offerings.
“The growing BPO industry has also positively impacted the retail sector, with the improved purchasing power of locals. Increasing tourist arrivals have also stimulated retail growth, with the trend seen to be unabated as more retail spaces are set to be completed and offered by both national and regional developers,” CBRE explained.
It also pointed out that the manufacturing sector posted an impressive double-digit growth of 10.3 percent in the first half of 2013, dominated by light industries such as shipbuilding, IT and IT-related services; and exports in furniture, semiconductors, electrical and electronic equipment.