BPO triangle hub:Megaworld sets foundation for BPO triangle hub

Andrew Tan-led Megaworld Corp. is setting the stage for the development of business processes (BPO) "triangle" center last week after the groundbreaking for the development of its draft Iloilo Business Park, complementing the company's evolution space offices in Metro Manila and a similar planned development in the province of Cebu.

Conceptualized in 2007, the plan was a lull for several years until last week's groundbreaking.

The project Iloilo 54.5 hectares, will initially Richmonde Hotel / Tower as a locator. Richmonde be a combination of hotel and office building complex with a retail component to be completed late next year, the company said.

"The Iloilo Business Park is an important component of the triangle BPO'm imagining that Peru will make an exciting and prosperous BPO destination in the world," said Tan, president of Megaworld.

Tan said this is the second leg of the triangle BPO.

Another project, Cebu has not yet been formally launched.

Magaworld has allocated 5,000 square meters to develop office space on the property of 25 acres near Shangri-La Resort Hotel in Mactan, Cebu.

"The Iloilo Business Park marks the second stage of our triangle BPO after our two cyberparks in Metro Manila, with the last stage to be launched in the coming years. Together, these will give investors good prospects BPO not only based on location, but the human resources component. At first we decided to launch our presence BPO (Iloilo), taking into account that Ilonggo naturally have a pleasant tone of voice, are very polite and hardworking, "said Tan.

Both the properties of Iloilo and Cebu were acquired by Megaworld in 2007.

Metro Manila is the apex of the triangle in the center of BPO.

The property used to be the site of an airport Megaworld purchased for P1. 2 billion of government through an auction.

Part of the company's plan is to turn the area into a central business district of Iloilo, with BPO offices, office buildings, schools, residential projects, a hotel, a convention center and commercial and recreational areas.

The Iloilo Business Park has been granted certification by the Authority of the Philippine Economic Zone as an information technology (IT) park in January this year, ensuring BPO locators in Richmond Tower advantages such as tax exemptions, import Royalty free office equipment and repatriation of income, among others.

At 54.5 hectares, Iloilo Business Park is the largest IT park Megaworld yet.

Megaworld said it will initially spend P2.5 billion for the project Iloilo to be used to develop the road network and the initial construction financing.

The 12-story Richmonde Hotel will host 90 rooms ranging from superior rooms and junior suites.

Its facilities seventh level of play deck features amenities such as swimming pool, children's pool and gym, while the business center at the same level includes meeting rooms and a conference room.

Richmonde Hotel Iloilo is the third project of Megaworld hotel under this brand. The hotel is designed to serve businessmen and tourists who come each year to witness colorful festivals and historic city of Iloilo.

La Torre Richmonde meanwhile occupy the second to sixth floor of the hotel, which offers more than 9. 000 square meters of prime office space for BPO locators. Both projects are scheduled to end in the next two years.

Kingson Sian of Megaworld executive director at the time of the inauguration of the triangle BPO center said they were already talking to potential locators.

In Cebu, Megaworld is considering spending P2.5 billion as initial investment to develop the property.

The office market is still dominated by offshore and outsourcing industry (O & O), which because of the attractiveness of lower wages in countries like the Philippines and the need to reduce costs have encouraged companies to send their operations back-office offshore. This led to the need for office space in the Philippines, after the last economic crisis has not been picked up strongly as mid-2000.

After starting to locate in the best areas of Manila, these companies have trained their sites on the second tier of cities for their talent, and a lower rental rate, benefiting Megaworld push to have BPO centers in areas such as that of Iloilo and Cebu.

Real estate consultant Jones Lang La Salle, said that given the projected growth of the BPO industry in the next couple of years, a deficit in the initial offer later this year is expected. Between 2008 and 2014, an estimated 2,020,000 meters square of the new space is expected to be operational.

The demand, however, is least 75,000 square feet per quarter, or 300,000 a year.

Within three years, offer a swim with office space for this year considered to reach only 279,587 meters and 163,313 meters square square next year, and even lower in 2013 to 141,387 square meters

In 2013 and 2014, there is an expected deficit of "about 100,000" (square meters) the consulting firm said.

Most events Megaworld of office space are in Metro Manila, particularly in projects of the municipality as Eastwood Libis, McKinley Hill, and the city of Newport.
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