[ Malaya.com.ph ] July 2, 2008
By ALBERT CASTRO
Ayala Land, Inc. will invest P3 billion to set up a business process outsourcing and retail complex inside the Camp John Hay.
ALI said it signed a 39-year agreement with Fil-Estate led Camp John Hay Development Corp., "effective July 1" to lease 12 hectares within the John Hay Special Economic Zone, Camp John Hay, Baguio City.
"We expect to finish master-planning this year and ground break by the second quarter next yrar or earlier. Development will last five years," Ayala Land spokesman Alfie Reyes said.
About 40,000 square meters will be set aside for BPO office space and support facilities, and about 7,000 square meters of retail.
Reyes said Ayala Land is simply a tenant in the Camp John Hay property.
Baguio City Mayor Reinaldo Bautista, Jr. earlier said that the Ayala Land’s plan was an affirmation on the rich pool of college graduates of the city, which also serves as the education hub in northern Philippines.
The Business Processing Association of the Philippines (BPAP) expects the BPO industry to hit annual revenues of $13 billion by 2010. The 2010 target translated to 235,000 to 900,000 new jobs.
Most BPO firms, about 82 percent, are located BPO firms in Metro Manila; current trends had a number locating their expansions in "next-wave cities."
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