Filinvest REIT signs global BPO client to 1,993 sqm lease

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Filinvest REIT disclosed that it signed Singapore-based Gear Inc. to a 1993 sqm lease of “premium office space” in FILRT’s Filinvest One Building in Alabang. GEAR has 6,000 employees worldwide, and has been in the business process outsourcing g

in Alabang. GEAR has 6,000 employees worldwide, and has been in the business process outsourcing game since 2007. There was no information provided on the lease rate or term.FILRT has one of the worst occupancy rates among its cohort of commercial REIT counterparts. It has over 300,000 sqm of gross leasable area across its portfolio, but approximately 54,000 sqm of that is just sitting there, waiting to be filled.

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