Philippines' outsourcing industry to gain from US economic slowdown

Posted September 30, 2008

..."Round-the-clock construction work of new office buildings is sweeping across the Philippines.

At McKinley Hill, 15 hectares has been set aside for an information technology park, which will house business process outsourcing (BPO) offices costing almost US$260 million.

Investments like these have led international real estate services firms to dub the Philippines as the hottest real estate market in Southeast Asia.

Vice-chairman of CB Richard Ellis Philippines, Joey Radovan, said: "Our neighbours in Asia right now, the property value is actually very high compared to the Philippines. We are probably three to five times cheaper in terms of space."  ..."

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by Christine Ong, September30, 2008