Ilonggos urged to invest their P50-billion idle savings wisely

By TARA YAP
July 31, 2011, 5:21pm

ILOILO CITY, Iloilo — “Invest your P50 billion savings right where it counts (and) where it is needed,” top-notch business executive Manuel V. Pangilinan challenged Ilonggos during Iloilo City’s 1st Business Summit Friday last week.

Pangilinan, who is chairman of Metro Pacific Investments Corp., Philippine Long Distance Telephone Co, (PLDT), Smart Communications Inc., and other major Manila-based corporations, was invited as keynote speaker in said Summit organized by Mayor Jed Patrick Mabilog and the Iloilo City Trade and Investment Promotions Board.

“You’re owners of Iloilo’s destiny and not mere citizens,” stressed Pangilinan before Iloilo’s business community.

The P50-billion savings of Ilonggos, which, according to the Iloilo City Trade and Investment Promotions Board revealed, lie idly in commercial banks, can be used to fund public-private partnerships for a self-sustainable Iloilo economy that does not rely on govern-ment alone, Pangilinan said.

He cited the success of Ilonggos who built financial empires including Mang Inasal founder Edgar Sia II and Oscar Lopez of the Lopez Holdings Corp.

However, Pangilinan stressed that several areas of concern must be addressed to spur the local economy further.

He cited the need for a stable power and water supply, development of road networks, an efficient transport system, producing competent graduates, and a local government that must be business-friendly to be able to sustain investors’ interest in putting their money on the city.

“You have basic ingredients for revitalizing Iloilo, that is, the support of local government, an educational system that can develop and nourish competent managers and entrepreneurs, and the wealth of your history,” he underlined.

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An architectural gem fit for a ‘queen’

By Nestor P. Burgos Jr.

Inquirer Visayas First\

ILOILO CITY, Philippines—Ilonggo media tycoon Rogelio Florete is not known to shirk from challenges and threats.

In the dying years of the Marcos dictatorship, Florete’s radio network—Bombo Radyo Philippines—faced off the regime’s massive propaganda machinery and delivered independent and factual news especially during the Edsa People Power I event.

In 1989, suspected communist rebels kidnapped and held Florete in the mountains of Negros Occidental for 72 days.

Now 71, Florete has not showed signs of slowing down.

As head of the Florete Group of Companies, he has steered and strengthened his business empire through the years. The group has interests in broadcast media (Bombo Radyo), banking (Queenbank), real estate (Florete Land and Florete Properties Management), agri-business, and the pawnshop and jewelry trade (R. Florete Pawnshop and Jewelry).

Florete recently added Plazuela de Iloilo—Iloilo City’s newest business and recreation center and architectural landmark—to his investment cap.

Situated on Sen. Benigno Aquino Jr. Ave., beside SM City Iloilo, the fast-rising commercial and entertainment strip offers the amenities of a modern business complex and a natural al fresco experience.

Plazuela boasts a total land area of 20,977 square meters including the 4,500-square-meter Plaza Mayor—an open area with koi ponds on both ends.

The plaza is an ideal place for people to stroll. Events and shows like conventions, bazaars and concerts may also be held there.

Three two-story buildings with Spanish-Italian inspired designs are named after famous Spanish cities—Avila, Barcelona and Madrid.

The buildings have a total floor space of 8,700 square meters. On the ground floor, there are restaurants, retail stores, shops, service outlets, karts and kiosks. The second floor is ideal for business process outsourcing (BPO) firms.

Plazuela de Iloilo has a spacious parking space that can accommodate over 100 cars and offers full power backup during power interruptions through its two power generators.

With a two-meter elevation from street level, the complex will not be prone to flooding, designers claim.

The Plazuela held its soft opening late last year. Since then, thousands of Ilonggos and tourists have visited the complex, attracted by its architectural design and spacious open areas.

It now hosts a bar, service shops, children’s play center and popular restaurants serving seafood, Italian, Japanese and Thai cuisines.

Florete says this investment is his way of “giving back” to Iloilo and Ilonggos.

“Iloilo has been kind to my family, and we want to build an edifice that Ilonggos can be proud of, one that does justice to this city,” he says.

It was during a meeting with Ilonggo businessmen based in Manila four years ago that the seed of Plazuela was planted in Florete’s mind.

“We agreed that we should help Iloilo regain its title as ‘Queen City of the South’ by tapping our resources and investing in businesses that will spur economic development and create more jobs and opportunities for our fellow Ilonggos,” Florete says.

To this end, his family decided to develop part of their 50-hectare property on the diversion road.

Design of Plazuela de Iloilo was in the hands of internationally renowned architect Felino “Jun” Palafox Jr. It took nearly two years to finalize the design, having undergone several revisions due to Florete’s meticulous attention to detail.

Florete said the architectural design was inspired by Iloilo’s rich historical heritage as reflected in the Spanish and American colonial houses in the city.

Florete says his family’s investment in the complex has been “substantial,” adding that the building’s character has more than made up for the cost.

“It would have been much cheaper to build a box-like building and maximize space. But we want to have something that will inspire and encourage more development in the general area,” he said.

The investment also reflects Florete’s optimism in Iloilo’s economic growth.

The increasing number of tourists and heightened economic activity have also raised demand for more restaurants and business centers, he says.

Florete expects more development to take place around Plazuela de Iloilo.
 

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Iloilo PDC oks P3.6-B investment plan for 2012

ILOILO -- The Iloilo Provincial Development Council (PDC) has approved the Annual Investment Program (AIP) for calendar year 2012 during a meeting at the Sarabia Manor Hotel and Convention Center yesterday.

Vice Gov. Richard Garin presided the meeting on behalf of Gov. Arthur Defensor Sr. who is in Metro Manila on official business.

The AIP amounting P3,664,000,855.16 is divided into three sectors -- General Public Services, Social Services and Economic Services.

General Public Services sector amounted to P489,084,881.51; Social Services sector, P1,943,063,150.74; and Economic Services sector, P3,628,779,855.16.

The AIP is based on the Defensor administration’s strategic themes:

1) improved health and nutrition through accessible and better health facilities and services

2) healthy living environment through environmental protection and rehabilitation

3) improved farm household through improved agriculture productivity

4) enhanced quality of life through quality and accessible education, social welfare and related services

5) improved household income through entrepreneurship and employment opportunities

6) enhanced accessibility through better infrastructure and other support services

7) good governance through transparency, service competencies and good fiscal position, and

8) efficient government service through better government facilities.

The AIP is considered as the governor’s “shopping list” for next year’s executive budget which will be deliberated starting October this year.

Garin said the Local Finance Committee will determine the availability of funds for the project proposals while the Governor will have the final say on what projects will be given priority in the executive budget. (ECGarcia, Capitol News/PN)

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PRE-WAR JAPANESE COMMUNITY IN ILOILO

BEFORE the war, there was a Japanese community in Iloilo City. They were led by Torakich Murakami who was their unofficial consul.

Mostly merchants, the Japanese operated bakeries, candy factories, flower/vegetable gardens and refreshment parlors for leche con hielo or mongo con hielo. Some were itinerant traders peddling goods in the interior towns and who, during the war, were found to be spies.

They had trading houses in Iloilo importing textiles, canned goods, soaps and paints. They were Osaka Boike Kaisha, Daido Boeki Kaisha, Nihon Yusen Kaisha, Osaka Shosen Kaisha and Murakami and Company.

Their big stores were Iloilo Bicycle Store of a certain Yoshida that was discovered during the war to be a colonel in the Japanese Imperial Army; La Camisiteria de Itoh, Murakami Bazaar and Fuji Bazaar.

Some prominent Japanese then were:

* Yoshiharu Watake, an engineer who built the Santa Barbara water reservoir
* Sheyeichi Umano who built the Panay Electric Company
* Miyoshi Harakoa, a boiler technician at Santos-Lopez Sugar Central
* Shozo Masumi, a mining supervisor in Concepcion
* Dr. Hashimoto
* Tatsuya Eiwaki, a mining engineer; and
* Tarakichi Murakami, president of the Japanese Association in Iloilo.

They also had a fishermen’s association composed of Manchurian (deep sea fishing) operators with Izao Takaizu as president.

There was, too, a Japanese school for Hojin (Japanese residents) children at Tanza (Iloilo Nihonjin Shogaku) established in the 1930s with Isao Kayamuri as its principal.

At the outbreak of the war, the Japanese in Iloilo City were concentrated first at the Iloilo Central School and were later transferred to San Enrique (Passi) Elementary School where they were found when the Japanese invasion forces landed in Panay in 1942. One of their guards was Sgt. Faustino Sorianosos of the Philippine Constabulary./PN

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De Luzuriaga: Tackling the BPO challenge

(Starting today, The Daily Guardian is running a series on the speakers of the 1st Iloilo City Business Summit themed "Innovative and Sustainable Development for Growth" on July 29, 2011 at the Kalantiao Hall of Sarabia Manor Hotel and Convention Center. TDG is a media partner of the summit.)

JONATHAN Defensor De Luzuriaga is an independent World Bank Consultant for global information technology initiatives and executive vice president of CIBI Information Inc., a premiere provider of business and personal information since 1982.

Mr. De Luzuriaga holds a Political Science degree from the De La Salle University.

Formerly the managing director of Tholons Southeast Asia, De Luzuriaga was tasked to lead all consulting, advisory, research and information initiatives of Tholons for the region which includes developing globalization strategies, execution of outsourcing strategies and monitoring and tracking of outsourcing outcomes.

He was also the former executive director for industry affairs of the Business Processing Association of the Philippines and handled all initiatives dealing with new investors, client development, quality assurance and membership affairs.

Prior to joining the BPAP, De Luzuriaga played various roles in different Contact Centers and BPOs such as Ambergris, ePerformax, Teleperformance Philippines and Convergys.

Mr. De Luzuriaga will speak on the topic “BPO - A New Challenge Industry” during the 1st Iloilo City Business Summit on July 29, 2011.

Registration fees are P1,200 for professionals and P600 for students. Those interested to participate in the summit may call TMX at 508-5858, 338-2838, 301-1168. Limited seats only are available on a first come, first served basis.

The 1st Iloilo City Business Summit is a project of the Iloilo City Trade and Investment Promotions Board under the Office of the City Mayor, Iloilo City Trade And Investment Promotions Foundation, Inc. in partnership with the Department of Trade and Industry, Junior Chamber International Iloilo and Injap Land Corp.

http://thedailyguardian.net

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Smart continues rollout of high-speed Internet in Vis-Min

By Mary Ann LL. Reyes (The Philippine Star)

MANILA, Philippines - As part of its mission to make high-speed Internet available to all Filipinos, leading wireless services provider Smart Communications Inc. continues to roll out Evolved High-Speed Packet Access (HSPA+) technology to more key areas in the Visayas and Mindanao.

HSPA+ is an upgraded version of High Speed Packet Access (HSPA) technology. Based on the standards set by the International Telecommunications Union (ITU), HSPA+ is the fastest form of 3G which Smart has been conducting tests since 2009.

According to PLDT and Smart technology group head Rolando Pena, a significant number of cities and municipalities in the central and southern parts of the Philippines now have access to HSPA+, including key areas such as Cebu City, Davao City, Iloilo City and Zamboanga City.

“We are fully committed to improving the Internet experience throughout the country and we believe that HSPA+ will play a big role in achieving that goal. More upgrades are slated in the coming weeks,” Pena said.

Last April, Smart introduced the country’s first and only Long Term Evolution (LTE) 4G network in Boracay. Earlier this month, Smart conducted the first public demo of LTE in Metro Manila.

Equally important in providing an extraordinary Internet service is a solid backhaul composed of fiber optic cables and microwave transmitters which deliver data from the wireless base stations to the core network. Smart, together with its parent company Philippine Long Distance Telephone Co. (PLDT), own the largest fiber optic network consisting of 42,000 kilometers of cables in a looped configuration for unparalleled resiliency.

“It is very important to ‘loop’ the cables because that allows for uninterrupted transmission even when the primary communication lines have been severed. By the end of this year, we’re looking to install an additional 3,000 kilometers of fiber optic cables,” Pena added.

Efforts to improve Smart’s network infrastructure is in line with what PLDT chairman Manuel V. Pangilinan refers to as the industry’s “Sputnik Moment”. The phrase, which was originally used by US President Barack Obama, is used to describe a time when companies have to make new investments to be able to move forward.

Similarly, Smart president and CEO Napoleon Nazareno said the conglomerate is committed to upgrading its network.

“We are undertaking a massive modernization program of our mobile and fixed networks. For the next two years, we have committed a total of P67 billion to expand and upgrade the core, access and backroom support elements of our network,” Nazareno said.

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Telecom giant installs country’s first e-medical network system in Iloilo

By TARA YAP
July 11, 2011, 4:40pm

ILOILO CITY, Iloilo, Philippines ?Telecommunication giant Smart Communications Inc. recently launched the country’s first electronic medical network system in Iloilo.

The technology, known as Secured Health Information Network and Exchange (SHINE) is an electronic medical record and inter-facility health referral system that can be accessed through either the internet or mobile phones.

Ramon Duremdes, Smart consultant for Strategic Business Development Group, said doctors and other health care professionals can be interconnected through the system.

Developed in consultation with the Department of Health (DoH), SHINE is a comprehensive databank for both health care professionals and patients.

It aims to enable the health sector more efficient by omitting redundant recording system in hospitals and health care centers.

The system features electronic documentation of patient medical records, patient consultations, health care specialist referral lists, and providing real-time information of patients to doctors via text messaging.

“With real-time data it generates, we can analyze the patient’s status and make necessary recommendations,” said DoH Undersecretary Teodoro Herbosa.

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TRABAHO SA PLAZA: More job opportunities for Iloilo City’s jobless

ILOILO City ? The major plazas of this city will now be an avenue for jobseekers, unemployed, fresh graduates and displaced overseas Filipino workers to have easier and better access to employment opportunities.

The Iloilo City Public Employment Service Office has expanded the access of Ilonggos to job openings and opportunities through its “Trabaho sa Plaza” jobs fair which will be conducted in the major plazas of the six districts of the city.

PESO Manager Alan Zaldivar said the initiative is part of the efforts of the city government to reach out to residents who are looking for jobs or who are unemployed, so that they could participate in employment opportunities under their Project JED which stands for Jobs, Employment and Development.

“Mayor Jed Patrick Mabilog wants us to vigorously implement initiatives that will provide employment opportunities to the city’s residents to help them find jobs or sources of income, for them to have an improved and better life,” said Zaldivar.

The first “Trabaho sa Plaza” will be conducted tomorrow from 8 a.m. to 4 p.m. in Jaro Plaza.

Zaldivar said 50 companies will participate in the jobs fair -- 30 are local companies and 20 are overseas recruitment agencies.

Some of the available local job openings are waiters, food handlers, office staff, account specialist, encoders, salesmen, and management trainees and supervisors.

Overseas employments that will be offered include waiter, waitresses, drivers, nurses and para-medical, among others.

Applicants are advised to bring necessary documents such as resume, transcript of records, ID pictures and certificate of employment for those who are previously employed.

The “Trabaho sa Plaza” jobs fair is the ninth job fairs conducted and supported by the Iloilo City PESO together with its various partners since January of this year, that have given employment to around 1,970 residents. (PIA-Iloilo)

source: http://www.pia.gov.ph/

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Developers eye agro- industrial park in Iloilo

TWO developers are eyeing to establish an agro-industrial park within the convergence areas covered by the Jalaur River Multi-Purpose Project II (JRMP II).

This was disclosed by Ricardo Provido, chairman of the Regional Agri-Fisheries Council (RAFC), during the culminating activity of the 35th anniversary celebration of the Comprehensive Agrarian Reform Program (CARP) and the second year of implementation of the CARP extension with reforms (CARPER) in Iloilo.

“This can become an eco-zone but it will be based on the processing of agri-fishery products. This is what they call the agri-fishery development park, it is an eco-zone,” Provido said.

Provido said the developers, which he did not name at this time, were very specific that “they wanted to be in the convergence area; hopefully it will be within the Jalaur River Basin.”

He said the project site makes delivery of raw materials and finished products for shipping easy because it can be facilitated without traffic.

“It can immediately go to the coastal road and direct to the seaport or it can go directly to the airport,” he added.

Other factors that prodded the developers to invest are the availability of water and power.



“I had a long talk with one of the proponents two weeks ago in Manila and they were very specific. We are just recommending them areas,” he said.

The potential project site is already available but Provido said he is not at the liberty to divulge it yet.

“We hope in the next five years this will bear fruit,” he added.

The JRMP II convergence area covers 13 towns from the third and fourth districts of Iloilo.

The JRMP II, which is a convergence project of the Department of Agriculture (DA), Department of Agrarian Reform (DAR) and the Department of Environment and Natural Resources (DENR), includes the construction of dams that could irrigate some 36,000 hectares of rice land; power generation with a capacity of about 20 megawatts, potable water and fishery development for surrounding communities.

The more or less P19-billion project, which will be implemented through the public-private partnership (PPP) scheme, is expected to be completed by 2015.

The Jalaur River is the second largest river in Panay and the 17th largest river system in the Philippines. (PNA)
Category: For Business

http://www.thedailyguardian.net

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UP-Visayas to represent country in Int'l Accountancy contest

ILOILO CITY, July 11 (PNA) -- Four B.S. Accountancy students from the University of the Philippines in the Visayas (UPV) bested rivals from different accountancy schools nationwide to earn the right to represent the country in the International Accountancy Quiz Competition to be held in China on July 23 to 24 this year.

The four Filipino representatives to the prestigious event, Dominic Dapad, Gerard Cordero, Mara Francillan Cordero, and Ordy Osorio emerged champions in a national accountancy tilt entered into by equally-gifted future accountants from around the country by gaining the best marks during the oral presentation last June 10 and ultimately, the nod of the judges.

According to their mental coach, Professor Arthur Barrido, Jr., only six schools made it to the Finals which included De la Salle University of Manila, San Carlos University, Notre Dame University of Mindanao, and University of the Philippines-Visayas. In the initial stage, the contesting schools were asked to submit an Accounting Case Analysis written report which became the basis for the oral presentation. (PNA)

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PAGASA’s Iloilo Synoptic Station hopes to operate before year end

ILOILO CITY, July 11 (PNA) ? The Iloilo Synoptic Office of the Philippine Atmospheric Geophysical Astronomical Service Administration (PAGSA) has finally found a home following the closure of its weather station here due to lack of space for its office and facilities months ago.

Engr. Rowen Gelonga, regional director of the Department of Science and Technology (DOST), said the Department of Agriculture (DA) has granted a space for PAGASA to establish its office at the former’s Western Visayas Integrated Agricultural Research Center (WESVIARC) in Brgy. Hamungaya, Jaro district.

Gelonga said he witnessed last month the signing of the memorandum of agreement (MOA) between PAGASA supervising officer Niel Servando and DA Regional Executive Director Larry Nacionales relative to the site.

“I think anytime soon the PAGASA will start its construction,” he said as he credited city’s lone district Rep. Jerry P. Trenas for requesting a bigger budget for the office and for the DA to accommodate PAGASA.

DA is also expected to benefit from the move as it also needs “data for its climatological studies, researches and development” that could impact on the agriculture sector.

The WESVIARC also hosts DA’s agro-met station and DOST’s automatic weather station (AWS).

Gelonga said that in the absence of the synoptic station, PAGSA is also using data generated by the AWS.

He also said that the AWS is not really just for PAGASA but for local government units (LGUs) to monitor what is happening in their locality.

“They can use data for planning, emergency response and related activities emergency response and related activities emergency response and related activities,” he added.

Personnel of the PAGSA used to be based in Iloilo have been sent to their regional office in Cebu for retraining. (PNA)
DCT/FFC/PGL/vlo

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Villar family-owned company plans to put up water firms in Iloilo

THE company controlled by the family of Sen. Manuel Villar and its partners have ?secured regulatory approval to establish two new companies relating to their initiatives to supply water in Iloilo province.

The Securities and Exchange Commission last week approved the incorporation of Iloilo Primewater Ventures Corp. and Flo Water Resources Iloilo Inc.

The same documents showed that the Villars, through privately held Primewater Infrastructure Corp., teamed up with the Florete family of Iloilo and with Solerex Water Technologies Inc., maker of retail water treatment systems and owner of the Crystal Clear brand.

In an interview with business reporters last week, Villar said his family plans to be “aggressive” in pursuing water supply contracts particularly in Iloilo.

He said his group has experience in supplying water to homes built by Vista Land & Lifescapes Inc., a listed homebuilder that Villar founded three decades ago.

Last month, the Metro Iloilo Water District awarded Primewater, Solerex Water and Marro Holding Corp. ?with a 10-year water contract to supply several Iloilo towns with 10,000 cubic meters of water per day, according to published reports.

Marro Holding is owned by local businessman Rogelio Florete, whose family has interests in banking, broadcast media, real estate development and agriculture.

Villar is banking on positive growth prospects in the Western Visayas province, which already hosts several large real estate developers including firms led by the Ayala, Sy and Gokongwei families. ?

Apart from expanding its water distribution business, Villar said last week his family is looking at power among other infrastructure related projects. --Miguel R. Camus @
Business Mirror

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Developers eye agro-industrial park in Iloilo

ILOILO CITY, July 8 (PNA) – Two developers are eyeing to establish an agro-industrial park within the convergence areas covered by the Jalaur River Multi-Purpose Project II (JRMP II).

This was disclosed by Ricardo Provido, chairman of the Regional Agri-Fisheries Council (RAFC), during the culminating activity of the 35th anniversary celebration of the Comprehensive Agrarian Reform Program (CARP) and the second year of implementation of the CARP extension with reforms (CARPER) here.

“This can become an eco-zone but it will be based on the processing of agri-fishery products. This is what they call the agri-fishery development park, it is an eco-zone,” he said, adding that “some eco-zones are purely industrial.”

Provido said that the developers, which he refused to disclose at this time, were very specific that “they wanted to be in the convergence area; hopefully it will be within the Jalaur River Basin.”

He added that the location makes delivery of raw materials and finished products for shipping easy because it can be facilitated without traffic.

“It can immediately go into the coastal road and direct to the port or it can go directly to the airport,” he said.

Other factors also are the availability of water and power.

“I had a long talk with one of the proponents two weeks ago in Manila and they were very specific. We are just recommending them areas,” he said adding that the location was already available but he is not yet at the liberty to divulge.

“We hope in the next five years this will bring fruit,” he added.

The convergence covers 13 towns from the third and fourth districts of the province of Iloilo.

The JRMP II, which is a convergence project of the Department of Agriculture (DA), Department of Agrarian Reform (DAR) and the Department of Environment and Natural Resources (DENR), includes the construction of dams that could provide irrigation to some 36,000 hectares of rice land; power generation with a capacity of about 20 megawatts, potable water and fishery development for surrounding communities.

The more or less P19 billion project which will be implemented through the public-private partnership (PPP) scheme is expected to be completed by 2015.

The Jalaur River is the second largest river in Panay and the 17th largest river system in the Philippines. (PNA)

LAP/LAM/PGLena/vlo

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Iloilo assured of P100-M fund for road-widening project

ILOILO CITY, July 7 (PNA) – The city government here is already assured of P100 million fund for its road-widening project from Tabuc Suba to Buntatala in Jaro district.

Mayor Jed Patrick Mabilog on Thursday received a faxed copy of the Special Allotment Release Order (SARO) worth P100 million.

Mabilog said that the P100 million is part of the P200 million committed by Senator Franklin Drilon for the project.

Meantime, Iloilo City Lone District Rep. Jerry P. Treñas will put in P50 million from his Priority Development Assistance Fund (PDAF) for the project.

The city government will try to find other fund sources for its completion, which includes the expansion of the Montinola Bridge.

“This is good news for the people of the district of Jaro and neighboring municipalities,” he said.

The mayor also said that the project would be implemented immediately as soon as the fund arrives, probably in two to three months.

The project is expected to ease the traffic along the area, especially during peak hours. (PNA)

RMA/PGLena/vlo

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Realty sector to enjoy continued growth

THE PHILIPPINE real estate market is set to enjoy a “sustained upward cycle” as demand for office space combined with interest in retail, tourism and residential projects will continue to drive the sector forward, property consultancy firm CBRE Philippines, Inc. yesterday said.

A BUILDING rises in the Ortigas central business district in this photo taken on June 16. The local property sector is expected to enjoy continued growth, a consultancy said. -- JONATHAN L. CELLONA

“From a macroeconomic cycle, this is not a bubble. This is the start of a sustained upward cycle. There is a lot of demand,” CBRE Chairman Rick M. Santos said at a briefing.

Demand for office space, for instance, is expected to remain robust as business process outsourcing (BPO) firms are poised to expand, he said.

“We believe the Philippine office sector has some of the best fundamentals of all the Southeast Asian markets,” he said.

“The Philippines has some of the lowest rental rates, highest yields and greatest demand for office space in Asia,” he added.

BPO companies are continuously expanding in and outside existing hubs and central business districts like Makati, Ortigas, Fort Bonifacio in Taguig, Quezon City, Alabang and Mandaluyong, according to the consultancy.

Outsourcing firms are also tapping Cebu Asiatown IT Park, the Plazuela de Iloilo in Iloilo and Abreeza development in Davao.

“I really think the good years are ahead of us. The government looks stable, so many new players are coming in for the BPO and there is the knowledge process outsourcing companies,” Jose Luis F. Matti III, executive director of CBRE Philippines, said.

The local BPO industry employed 525,182 workers as of end-2010, with a projected additional 500,000 jobs to be created over the next five years that will demand three million square meters of office space, CBRE data show.

“They realize how good the Philippines is in terms of location and we have a very skilled work force,” Mr. Matti added.

Furthermore, increasing overseas Filipino remittances are fueling the growth in the retail and residential development, the consultancy said.

“The housing, retail and leisure segments benefit from the continued rise in remittances,” CBRE said.

In the first four months of the year, remittances rose by 5.98% to $6.2 billion and is projected to grow by 7% this year to $$20.1 billion, government data show.

For tourism, visitor arrivals grew by 13.3% in the first trimester to 1.3 million, government data show.

“The continuous growth in the tourism industry has encouraged direct investments in hotels and resort residents. Retail sector also benefits from the increased number of tourist arrivals,” it said.

CBRE Philippines started operations in 1998, offering valuation and advisory services, global corporate services, asset services and residential services.

Parent firm CB Richard Ellis is a Los Angeles-based property services firm with a $5.1-billion turnover last year through 31,000 employees in more than 438 offices worldwide. -- Neil Jerome C. Morales

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