LEECHIU Property Consultants (LPC) targets to transact P17.6 billion worth of property deals in the next six to 12 months, supported by the acquisition of a research firm.
In a statement over the weekend, LPC Chief Executive Officer David Leechiu said the firm’s investment sales team has transacted P3.5 billion worth of acquisitions and transactions in the first five months of operations since May. This includes 82,000 square meters of office spaces.
Leechiu noted the Information Technology-Business Process Management (IT-BPM) remains a significant factor and one of the main drivers of the company’s portfolio.
Of the 82,000 square meters of office space transacted since May, 76,000 sqm involved IT-BPM companies with the remaining 6,500 sqm spread across industries.
“IT-BPM companies employ 1.3 million people and the competency of the Philippines in handling IT-BPM operations continues to improve, thanks to initiatives such as the Next Wave Cities by the DOST-ICTO and IBPAP. Thus, we expect this sector to still grow exponentially in the coming years, with LPC backing up IT companies looking for the best-suited locations for their business,” Leechiu said.
LPC has 333,000 sqm in the pipeline, 41,000 sqm of which are from the IT-BPM sector and the remaining 292,000 sqm from other industries.
In line with its target of P17.6 billion worth of deals in the coming months, Leechiu noted the recent acquisition of Vertex Land Development Management Consultancy Inc.(Vertex Land) will the consultancy reach its objective.
“The acquisition will allow LPC to offer its clients a full suite of consulting services that includes market research, project conceptualization and project feasibility,” Leechiu said.