As the business process outsourcing (BPO) industry diversifies its locations, real estate developer Megaworld takes heed and targets to open three key townships in the Visayas.
Dubbed as the ‘Visayas BPO triangle,’ Megaworld plans to open three new office developments in Iloilo, Cebu and Bacolod, estimated to span 175,000 square meters of office spaces for the BPO sector.
“By 2020, our target is to bring it up to 225,000 square meters depending on market demand. So far, the demand goes up, so we see this as a big possibility,” Megaworld senior vice president Jericho Go said in a statement.
Iloilo City was recognized as one of the Centers of Excellence for IT-BPM operations by Information Technology and Business Process Association of the Philippines (IBPAP) last April, joining the ranks of Metro Manila, Metro Cebu, Clark and Bacolod.
These areas are tagged as premier IT-BPM hosts and high-density locations.
The Megaworld projects in these Visayan cities are estimated to generate around 50,000 full-time jobs in the BPO sector and around 300,000 indirect ones, mainly in retail and transport.
Projects are already on-going for the three areas. The 30-hectare development in Lapu-Lapu City, Cebu called The Mactan Newtown is set to be completed by 2017 with two new office towers.
The 72-hectare Iloilo Business Park township will be finished by the end of the year, while the 34-hectare The Upper East township in Bacolod is still in the works.