Boasting well-educated labor force, future supply of PEZA-accredited office space, and connectivity with the rest of the Philippines, Iloilo is an interesting case of office space deals outside Metro Manila gaining traction.
Iloilo, a popular choice among expanding business process outsourcing (BPO) firms, is an interesting case of office space deals outside Metro Manila gaining traction. Aside from Metro Manila and Cebu, Iloilo City and its neighboring municipalities are an emerging hotspot for higher-value knowledge process outsourcing (KPO) companies.
In the first half of 2021, Iloilo cornered about 30% of provincial office transactions recorded by Colliers, while approximately 15,400 square meters (165,700 square feet) of new space annually from 2021 to 2023 are expected. These new spaces are likely to be developed in the Mandurriao District of Iloilo City, and in Pavia, a municipality north of the city.
With a well-educated labor force, future PEZA-accredited office supply, and connectivity with the rest of the Philippines, Colliers encourages occupiers to consider Iloilo when exploring expansion sites outside of Metro Manila and Cebu as it is relatively less saturated yet features competitive levels of commercial development and talent availability.