As Iloilo City continues to thrive as one of the most vibrant economic hubs in the country, Mayor Jerry P. Treñas is encouraging landowners to maximize the potential of their idle lands by developing them into buildings that can accommodate offices and Business Process Outsourcing (BPO) spaces.
Treñas’ appeal follows insights on promising prospects for 2025 from David Leechiu, CEO of Leechiu Property Consultants, who cites Iloilo as one of the three major markets outside Manila and Cebu in terms of office space.
In an interview with Market Edge, Leechiu noted that the demand in these markets, specifically Iloilo and Bohol, has outpaced supply, indicating a strong need for more office spaces.
“This development opens up countless possibilities for 2025,” Treñas stated.
“The need for more office spaces signals the influx of new companies that will bring with them thousands of job opportunities for Ilonggos. Such progress not only boosts our local economy but also enhances the quality of life for our residents by creating stable and high-paying employment options,” he added.
The city mayor calls on landowners to take part in this exciting chapter of Iloilo City’s growth.
“Investing in the development of buildings not only increases the value of your properties but also contributes significantly to our city’s progress,” he said.
With these initiatives, Iloilo City is poised for even greater economic growth and development in the coming year, solidifying its position as a leading hub for business and investment in the country.
To note, buildings catering to BPO operations in Iloilo City are tax-free, and owners can enjoy exemptions from real property tax (RPT).
This, provided that they apply and get approved by the Philippine Economic Zone Authority (PEZA).
Treñas added that the city government is ready to endorse these areas to PEZA to provide even greater incentives for investors and developers.
As of April 2, 2024, data from the Iloilo Federation of Information Technology (IFIT) on the Information Technology and Business Process Management (IT-BPM) sector, which includes BPOs, Knowledge Process Outsourcing (KPOs), and shared services, indicates there are currently 118 firms in the metro employing more than 47,200 workers.
During Treñas’ previous term as mayor in 2007, the first IT building in Iloilo City was declared a PEZA zone through Proclamation No. 1273 by then-President Gloria Macapagal Arroyo.
Located at SM City Iloilo, the center was occupied by the BPO company Teletech.
It was also during Treñas’ term that the IFIT in 2006 and the Iloilo Economic Development Foundation Inc. (ILED) in 2007 were created to help Iloilo City attract investments in IT-BPM and achieve economic growth.
Following these initiatives, an increasing number of BPO companies and other businesses began relocating to Iloilo City. (Glenda STayona/Iloilo City PIO)
