Office space growth drivers bared

Reliable tenants Traditional companies and BPO.

Colliers International, a property consultant firm, on Thursday revealed that business process outsourcing (BPO), offshore gaming and the growing non-traditional companies this year will sustain the demand for office space in Metro Manila.

In a televised interview, Colliers International senior manager for research Joey Bondoc said the demand comes from Philippine offshore gaming operations (POGO), BPO as well as non-traditional companies such as multinational corporations, engineering firms and conglomerates that continue to expand.

“The traditional companies, the non-BPO, the multinational corporations are continuously taking up office space. There are a lot of multinationals, holding firms that are diversifying and their subsidiaries are continuously taking up office space across the Metro,” Bondoc said.

He added that offshore gaming has shown “relentless” demand despite China’s call to ban all forms of online gaming and existing POGO continue to expand even after the Philippine government temporarily suspended the processing of new permits.

The property consultant noted the traditional companies and BPO can “temper” demand should POGO decide to leave the country.

POGO are now the highest office space demand driver in Metro Manila in the first nine months of the year, followed by BPO, Leechiu Property Consultants earlier said, noting the demand from POGO in Metro Manila reached 375,000 square meters for the first nine months compared to BPO’s 294,000 sqm.