Col­liers: Out­sourc­ing drives of­fice demand in Ba­colod

Sun Star Bacolod - - Business - BY ERWIN P. NICAVERA

BA­COLOD City’s of­fice va­cancy has re­mained sta­ble de­spite the com­ple­tion of new build­ings, a global real property ser­vices com­pany said.

Col­liers In­ter­na­tional Philip­pines yes­ter­day re­ported that de­spite the ad­di­tion of 11,000 square me­ters, or 118,000 square feet of new sup­ply, va­cancy in the Ne­gros Oc­ci­den­tal cap­i­tal city has re­mained low as the new space was taken up by an out­sourc­ing com­pany.

The firm cited Ubiq­uity, Teletech, Teleper­for­mance, Con­ver­gys, Transcom, and Panasi­atic as among the ma­jor out­sourc­ing play­ers in the city.

“The ex­pan­sion of these com­pa­nies as well as grow­ing queries for of­fice space has com­pelled other na­tional de­vel­op­ers to of­fer leasable space,” it said.

Data pre­sented by Col­liers showed that in 2018, Ayala Land In­cor­po­rated opened its Ba­colod Capi­tol Cor­po­rate Cen­ter adding about 11,000 square me­ters, or 118,000 square feet, to the city’s leasable of­fice stock.

It raised the city’s stock to 118,500 square me­ters equiv­a­lent to 1.28 mil­lion square feet.

Ayala also plans to of­fer an ad­di­tional 7,800 square me­ters, or 84,000 square feet, of new of­fice space in its Ayala Malls Capi­tol Cen­tral, due for com­ple­tion this year.

In ad­di­tion, Me­ga­world said it will likely build two busi­ness process out­sourc­ing (BPO) of­fice build­ings in 2021 within its The Up­per East town­ship while SM Prime Hold­ings is also plan­ning to de­velop its own BPO tower within its com­plex.

De­tails of SM’S of­fice project have yet to be fi­nal­ized, Col­liers said.

It fur­ther re­ported that the pro­vin­cial govern­ment’s Ne­gros First Cy­ber Cen­ter Phase II project and an­other Ba­colod City-based de­vel­oper are due to de­liver around 15,000 square me­ters, or 161,000 square feet, of new sup­ply from 2019 to 2021.

“Ex­clud­ing the de­vel­oper’s plans, we see an es­ti­mated 14,300 square me­ters of new of­fice sup­ply per an­num from 2019 to 2021,” it said, adding that this should bring Ba­colod City’s of­fice stock to 161,300 square me­ters or 1.74 mil­lion square feet in 2021 higher by 36 per­cent from 118,500 square me­ters or 1.28 mil­lion square feet in 2018.

Amid the ris­ing in­ter­est from oc­cu­pants, Col­liers rec­om­mends that de­vel­op­ers build of­fice tow­ers within Philip­pine Eco­nomic Zone Au­thor­ity (Peza)-reg­is­tered prop­er­ties.

Also, it rec­og­nized the need to de­velop larger floor plates for con­sol­i­da­tion of ten­ants, of­fer more plug-and-play of­fices, and tweak the ten­ancy mixes of their re­tail podi­ums so as to at­tract or retain oc­cu­pants.

More­over, Col­liers is en­cour­ag­ing ten­ants to part­ner with govern­ment-run train­ing cen­ters to up­grade em­ploy­ees’ skills and keep an eye on new of­fice tow­ers due to be com­pleted in the next three years.*

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