Demand for office space outside NCR seen to step up

Business World

May 11, 2022

EXCERPT


“There are several reasons why call centers would want to lease outside of Metro Manila. It makes sense to look at new labor markets. That’s one of the reasons why we see more inquiries in the provinces, especially in cities that are organized and have prepared themselves to host business process outsourcing (BPO) companies,” Leechiu Property Consultants Executive Director Phillip G. Anonuevo said in a virtual interview.


“Companies will want at least 20% of their operations outside of Metro Manila. In the event of another lockdown, at least they are in more locations. Companies primarily in Metro Manila were caught flat footed, so it took a long time for them to adjust,” he added.


In a report, Colliers Philippines said that it sees the office market finally turning a corner, as it recorded a positive net take-up in the first quarter of 2022 after seven consecutive quarters of negative absorption.


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