MANILA, Philippines - Last Aug. 7, torrential rains across the
region caused heavy floods and suspension of work in public institutions and
most private companies. Nonetheless, leading real estate service and advisory
firm CBRE Philippines said this will not dampen the growth of the property
sector.
Rick Santos, chairman and founder of
CBRE, said the recent disaster only tested the resilience of the business
process outsourcing (BPO) sector. He added that despite the floods, BPOs were
able to ensure the safety of their employees and were able to deliver services
despite the floods.
The Philippines continues to be one of
the most-cost effective outsourcing destinations in Asia and has since
surpassed India as the call center destination in the region.
“The property market will continue to
gain strength. The country’s strong macroeconomic fundamentals will drive the
sector forward. However, we see a more focused demand in well-located and
well-developed properties that are managed using international standards.
Questions such as ‘is my property on high ground, how are the drainage systems,
what plans or mechanisms are in place in times of emergencies and calamities,
and who manages the building’ will come to the forefront of the purchase
decision,” he added.
Santos further noted that as an
aftermath of the recent floods, developers will be more receptive to the needs
of occupiers in terms of business continuity, disaster preparedness, as well as
practices that are in tune with global standards.
In the Philippines, CBRE has
established its presence in the early 90s and has emerged as the leading real
estate service provider through its comprehensive portfolio of offerings:
global corporate services, commercial office leasing, BPO/call center
solutions, residential sales & leasing, research & consultancy,
valuation and advisory, capital markets, and asset services.
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