June 29, 2022

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Damosa Land sees office spaces opportunity amid BPO expansion

2 min read

By Luisa Maria Jacinta C. Jocson

PROPERTY developer Damosa Land, Inc. said that it sees growth in the office spaces segment this year, with business process outsourcing (BPO) companies looking to expand outside of the National Capital Region (NCR).

“Not to replace NCR, but to expand. We are starting to see that demand is coming in. If we look at the last major crisis we had, which was the financial crisis in 2008, right after that was when the BPO industry took off. I think the same thing is happening now,” Damosa Land President Ricardo F. Lagdameo said in a virtual interview.

“All of the companies abroad, especially in the United States, are looking to streamline and save on costs and we are probably one of the top two BPO destinations in the world. We hope that demand will continue to be the same,” he said.

This year, the property market in general will begin its recovery, Mr. Lagdameo said.

“Last year was not yet really the recovery year.  We do feel 2022 will be the start of a true, meaningful recovery,” he said.

“In 2021, we started to see that projects sold well, we had various inquiries from tenants, we had some new tenants that opened businesses with us. There were certain months that were good, certain months that were not so good. But looking at 2022, it’s going to be a lot more consistent,” he added.

He said that real estate sales for the first quarter of the year were offset by the surge of the Omicron variant of the coronavirus.

“January was, for everyone, a bit of a hiccup because of that Omicron surge. But if we look at the numbers in February, and even leading to March, it looks very promising. We hope to keep this momentum up,” he said.

“Real estate sales are good so far, the inquiries and BPOs and office tenants really picked up this year. This year, there were actual visits, so that was very encouraging. Also, business travel is starting to come back. Even international travelers coming back to the Davao region,” he…

Neil

2022-04-03 12:06:36

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