PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

Ayala Land to build BPO village in Baguio

Philippine Daily Inquirer
First Posted 02:07:00 05/06/2008

BAGUIO CITY, Philippines—Real estate giant Ayala Land Inc. will spend P1.3 billion to build a business process outsourcing (BPO) village in the Camp John Hay, the city mayor said.

The project is part of a joint-venture arrangement between Ayala and Fil-Estate Corp. that is meant to revitalize Camp John Hay, a leisure estate and special economic zone, Mayor Reinaldo Bautista Jr. said.

Ayala has infused fresh capital in Fil-Estate-led Camp John Hay Development Corp., which owes the government up to P1 billion in rent accumulated since 1997.

Details of the tie-up between Ayala and Fil-Estate remain sketchy, despite confirmation by an official of the Bases Conversion and Development Authority at the start of the year, Bautista said.

But he said Ayala officials informed him about the project, citing the rich pool of college graduates in this resort city that is also the education hub of the northern Philippines.

Camp John Hay Development officials have not responded to queries of the Philippine Daily Inquirer about Bautista’s announcement, which he made during the flag ceremony at City Hall on Monday.

Bautista said BPOs in the Philippines get about one-fourth of their workers from Baguio City.

Jamea Garcia, executive director of the Business Processing Association of the Philippines (BPAP), said the BPO industry expected $13 billion in annual revenue by 2010.

Garcia, who spoke a national convention of Philippine Institute of Certified Public Accountants held here last week, said BPO revenues were estimated at $5 billion last year.

She said the 2010 target translated to 235,000 to 900,000 new jobs.

BPO firms in Metro Manila take about 82 percent of accounts but the industry has been trying to encourage development of “next-wave cities”— new BPO locations outside Metro Manila, where new accounts could be farmed out, Garcia said. Vincent Cabreza and Janela Paguio
Edited by INQUIRER.net

_____________________________________________________________________

real estate central philippines
Copyright ©2008-2020