The Philippines continues to solidify its place as the top outsourcing destination in the world. With Metro Manila and Cebu as established IBPAP Centers of Excellence, other regions have now emulated the IT-BPO template of those two areas, emerging as new hubs of offshoring in the Philippines.
One of these areas is the Clark Freeport Zone in Pampanga which is currently experiencing rapid development. Currently, it is the second largest market next to Metro Manila in terms of office take-up with 111,000 sq.m or around 10 of the nationwide office take-up. Coupled with ongoing construction of new buildings and the rise of Clark Global City, the area is expected to grow as a top multinational locator destination in the next 3 years.
Today, we’re diving into the current office market atmosphere in Clark to understand why locators should consider renting an office in Clark over other IT-BPO hubs such as Metro Manila and Cebu.
A Prime BPO Office Destination
Pampanga’s current infrastructure developments are unparalleled in terms of investment volume compared to other areas outside of Metro Manila, and most of these are concentrated within Clark. The CDC (Clark Development Corporation) has allocated Php 925 million last year for different infrastructure projects within Clark Global City, New Clark City, and a new Clark International Airport terminal. The new airport alone opens up endless business opportunities for new locators to set-up in Clark.
The Clark Freeport Zone is also a PEZA-accredited zone, giving locators there tax holidays and other fiscal incentives. Overall, Clark has become a business destination that’s extremely similar to Metro Manila and Cebu. While the other two are obviously more developed, Clark makes up for its current expansion by being less congested.
The Future of Clark’s Infrastructure
KMC Savills, one of the Philippines’ leading real estate firms, predicts that more BPOs and POGOs will operate in Clark. Large-scale projects including Filinvest Cyberzone, Megaworld, and GGLC are expected to be completed in 3-4 years. Moreover, 18 additional Grade A buildings totalling 336,000 sq m of gross leasable area will also be finished within the same timeframe. Noteworthy developments in the area include Filinvest Cyberzone Mimosa, Aeropark Campus Buildings, Clark Cityfront, and SM Clark Highline.
KMC has also recognized the rapid development of Clark, choosing and building out a new serviced office facility within the modern One West Aeropark Tower in Clark Global City. For more information on our private offices for rent, click on the CTA below.
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