AGI bullish on office sector as BPO investment bounces back
Alliance Global Group (AGI), the owners of property developer Megaworld Corporation, is confident of the office segment as business process outsourcing (BPO) firms return to investing in the Philippines. Despite a reduction in BPO leasing over the past year, Kevin Tan, AGI chief executive officer and eldest son of tycoon Andrew Tan, said the firm is going full steam ahead with BPO-focused expansion into various cities outside of Metro Manila. AGI is set to add more townships, and to also launch new hotels next year, including a Sheraton and an Okura in Newport City. AGI will also launch a Ritz Carlton in 2020. Tan said they are also focusing on strengthening their tourism projects. AGI will start the construction of the West Side City development in Manila Bay, at its US$1 billion integrated resort and casino complex in Entertainment City, due for completion in 2021.
