BOHOL is stepping up efforts to position itself as an emerging hub for information technology and business process management (IT-BPM), as global real estate services firm CBRE Philippines begins formal engagement with local stakeholders and investors to unlock new economic opportunities beyond traditional urban centers.
CBRE Philippines, the local arm of global commercial real estate firm CBRE, recently held its first official stakeholder engagement with the Provincial Government of Bohol, marking a strategic move to align infrastructure development with the growing interest of IT-BPM clients, particularly in Tagbilaran City.
“Our goal is to create value for our clients and simultaneously help unlock economic potential for the province,” said Jie Espinosa, CBRE Philippines’ country head.
“This is the first time we’re formally engaging a local government unit to promote a new IT-BPM destination,” Espinosa added.
The engagement, co-organized with the Bohol Economic Development and Investment Promotion Office (BEDIPO), convened key national and local stakeholders, including representatives from the Department of Information and Communications Technology, Tesda, major telcos, real estate developers and outsourcing players such as Ibex, TaskUs, Genpact and Sagility.
Bohol Gov. Aris Aumentado welcomed CBRE’s presence, describing it as a crucial move in connecting Bohol to the country’s high-growth digital services industry.
“CBRE’s expertise in matching companies with optimal locations is critical. We’re keen to explore how Bohol can cater to the rising demand for scalable office spaces and skilled labor in the ICT sector,” he said.
According to CBRE, data from the IT and Business Process Association of the Philippines (IBPAP) shows that while Metro Manila remains the sector’s primary hub, cities like Cebu, Iloilo, Bacolod, Davao, and Clark have now reached Tier 1 status. Bohol, including Tagbilaran City, is among the “Next Wave Cities,” locations with strong potential for IT-BPM expansion but still in earlier stages of development.
“Several BPO clients are already inquiring about Bohol. It mirrors the earlier trajectory of Iloilo and Bacolod, with a promising labor pool and relatively untapped market,” Espinosa said.
BEDIPO head Maria Fe Dominise shared key demographic indicators supporting this trend - a median workforce age of 24.5 years, a literacy rate of 98.4 percent, and a labor force participation rate of 67.7 percent. Currently, four major IT-BPM firms operate in the province, employing around 5,000 Boholanos.
Challenges
Despite this momentum, Espinosa noted that foundational challenges remain, particularly the need for fit-for-purpose commercial real estate.
“Most companies don’t enter markets at full scale. They prefer to test viability with flexible, ready-to-occupy spaces before making long-term commitments,” he explained.
Jam Macalino, CBRE’s head of Property Management, outlined the infrastructure standards required by IT-BPM firms with at least 2,000 square meters of expandable space, 100 percent backup power, robust telecommunications infrastructure and energy-efficient cooling systems. These requirements, he said, can pose capital challenges for local developers.
As a solution, CBRE is advocating for greater investment in flexible office spaces, which can enable quicker market entry and reduce investment risk for both operators and locators.
“Flexible spaces offer an efficient on-ramp for occupiers and operators. They can start small, incubate talent, and scale as the market matures,” said Macalino.
CBRE estimates there are around 58,000 flexible office seats across the Philippines, 36 percent of which are located in provincial cities, most of them in Cebu. Bohol, currently underrepresented in this segment, has an opportunity to tap into the growing demand through co-working models and public-private partnerships. / KOC