IT-BPO sector faces shortage in office space supply
Demand for office space from the Philippine information technology-business process outsourcing (IT-BPO) sector has now exceeded supply, according to the Information Technology and Business Process Association of the Philippines (IBPAP). Rey Untal, IBPAP president, said there is very little space left for the sector to use. He pointed out that the annual net new office take-up is about 450,000 square meters, but the available space in Metro Manila is only about 120,000 to 150,000 square meters.
IBPAP blamed the moratorium on new economic zones imposed by President Duterte in June for the scarcity of office space, but expressed hope that 21 pending applications for IT parks and centers will finally be signed. Untal said they are looking to discuss possible business opportunities with local government units in Metro Manila, noting that the IT-BPO sector is concentrated in just a few of the 17 cities in the Metro Manila area. He also said they are opening up dialogues to find an answer to the clamor for more offices in Manila.