CBRE Group, Inc. recently acquired Global Workspace Solutions, a provider of enterprise facilities management solutions for global corporations and other large occupiers of commercial real estate. The move strengthens CBRE’s position in the region to deliver globally integrated services to major occupier, and enhances relationships with many of the world’s most prominent corporations.
The business process outsourcing (BPO) sector of the Philippines remains the top driver for investment in the country, with demand being sustained by its cost-effectiveness and demographic dividend. Its strong macroeconomic growth with a 5.6% GDP and high foreign direct investments, contribute to the appeal of the Philippines to investors.
CBRE Philippines was founded by Rick M. Santos in 1995 just when the local BPO sector began. CBRE Philippines helped ease the entry of international BPO companies to the country by providing them with workspace locations, as well as property and facilities management services. It also brought in a number of international BPO companies since the 1990s.
In 2005, the local BPO sector contributed 2.4% of the GDP that grew to $8.9 billion in revenues in 2010. In 2011, the Philippines outshone India globally as the leading voice services center in a study done by Everest Research. This year, the Philippines was included in Tholon’s top 100 Outsourcing Destinations, ranking Manila and Cebu in the top 10, with Manila as Top 2 and Cebu City as 8th.
“The Philippine BPO sector will continue to thrive in the next years,” said Rick M. Santos, CEO of CBRE Philippines. “The country provides a conducive environment for foreign investors—an excellent pool and low cost of skilled labor, outstanding customer service, a quality destination, and one of the cheapest rental rates and highest yields in Asia.
Santos also announced the launch of its specialist “CBRE-BPO services” to support the needs of this business sector that is expected to bring in over $25 billion in revenues by 2016.
These include transactional services, project management, facilities management and technical services.