Filinvest REIT Corp. (FILRT) said the return to 100-percent onsite operation of information technology-business process management (IT-BPM) companies will boost the real estate leasing industry.
FILRT made this statement following the announcement of the Fiscal Incentives Review Board it expects the IT-BPM sector to fully-transition to on-site office operations after March 31, 2022, in line with its Resolution 19-21.
This move is expected to boost leasing particularly the office segment as IT-BPM companies rebuild their onsite footprint, FILRT said.
“Bringing operations back to highly equipped sustainable workspaces will not only increase productivity and provide stable connectivity but will also assist workers to deal with WFH (work-from-home) social challenges. We expect that this shift will boost our economy with a push towards job creation, consumer spending, and business growth,” said Maricel Brion-Lirio, FILRT president and chief executive officer.
FILRT said it is positioned to benefit significantly from this transition as its portfolio has one of the largest percentages of IT-BPM tenants among Philippine REITs at 90.8 percent. – Irma Isip