BPOs led office demand in 2020
Commercial real estate agency Lobien Realty Group (LRG) reported that the business process outsourcing (BPO) sector “again dominated” the demand for office space in 2020, especially with the exit of Philippine Offshore Gaming Operators (POGOs).
Last year, LRG CEO Sheila Lobien said that office space demand from POGOs shrank to 16 per cent while BPO firms comprised 41 per cent of the total demand last year. She added that the current vacancy rate of office space in Metro Manila is at eight per cent.
However, it is projected to reach between 12 to 14 per cent this year due to the POGO exodus.
