http://www.gmanetwork.com/news/money/companies/607381/bpo-firms-invade-provinces-as-lack-of-office-space-grips-metro-manila/story/
BPO firms invade provinces as lack of office space grips Metro ManilaPublished April 18, 2017 1:56pmBy TED CORDERO, GMA News The dwindling supply of office space in Metro Manila is driving business process outsourcing (BPO) companies to set up shop in key areas outside of the metropolis, particularly in Luzon and the Visayas, Leechiu Property Consultants (LPC) said Tuesday. The office space vacancy rate in Metro Manila is now hovering at 4 percent, according to LPC. Areas outside of the National Capital Region could generate a combined demand of 800,000 square meters of office space in the next five years. “The projected additional 200,000 employees in the provinces translate to a demand of 800,000 sqm of office space or the projected annual take up in Metro Manila for 2017,” LPC CEO David Leechiu said in a media briefing in Makati City. On the supply side, Leechiu said 5.4 million sqm of office space is projected to come on stream across the country by 2023. “Of that number, 74 percent is within Metro Manila with the balance spread across Cebu, CALABARZON and other cities,” he said. — VDS, GMA News