Intellirisk Management Corporation Explores Joint Venture Opportunities with Real Estate Firms

Strategic Insights -

The global business process outsourcing firm Intellirisk Management Corporation is considering entering into joint venture agreements with prominent real estate firms in the Philippines, including the Ayalas and the Aboitizes, to leverage their expertise in real estate development. IRMC president Vikas Kapoor emphasized the need for a partner to handle real estate concerns, allowing the company to focus on technology and operations. The venture would not only benefit from the existing infrastructure and skilled workforce in Cebu but also enable expansion into international markets.

Key Takeaways:

  • Intellirisk Management Corporation is exploring joint venture agreements with real estate firms, such as Ayala Corporation and the Aboitiz group, to handle real estate concerns.
  • IRMC president Vikas Kapoor cited the need for a partner to focus on technology and operations while the partner handles real estate development.
  • Ayala Corporation's Ayala Land Inc. is aggressively building projects to cater to the burgeoning BPO sector in the Philippines and has already expanded into international real estate markets.
  • The Aboitiz group is a top conglomerate in Cebu, with many BPO firms planning to relocate due to the availability of skilled labor and infrastructure.
  • Ayala Land Inc. is allotting P1.1 billion to P1.2 billion for this year's capital expenditures to raise its gross leasable office space for the expanding BPO market.
  • ALI president Jaime Ayala aims to increase gross leasable area for BPOs to 105,000 square meters, from around 36,000 square meters last year.
  • ALI plans to build BPO facilities as fast as possible, with a proven track record of completing a building in as little as four months.
  • The company will also develop campus-type BPO facilities with training centers to ensure a steady supply of skilled workers.

Statistics:

  • P1.1 billion to P1.2 billion: The amount allocated by Ayala Land Inc. for this year's capital expenditures.
  • 105,000 square meters: The target gross leasable area for BPOs.
  • 36,000 square meters: The current gross leasable area for BPOs.
  • 4 months: The fastest time it takes for ALI to build a BPO facility.
  • P500 million: The amount spent on two BPO campus developments.

Sources:

  • JAL (Author Name), "IRMC Seeks JV Partner for Call Center, Real Estate Concerns," uncredited publication, date unknown.