The business process outsourcing (BPO) industry will continue to support real estate businesses in the Philippines. According to the Asia Pacific Real Estate Association (APREA), the BPO sector will remain a pillar of the real estate sector.
“Having a strong BPO sector will be a catalyst for that industry,” Zialcita said in a virtual media briefing Tuesday,” , APREA chief executive officer Sigrid Zialcita said.
Zialcita said the BPO sector will also back real estate investment trust (REIT) investments in the country, with REITs portfolio mostly in the office market.
The bulk of the tenancy of the office space consists of the BPO sector, she added.
While outlook on REITs is bearish as Metro Manila and nearby provinces are placed under enhanced community quarantine, Zialcita said they expect this phenomenon as temporary and the country could bounce back within a year. “We are expecting more (REIT licenses) to come in the next six to 12 months,” she said.