BPO firms are buying more office space in the provinces, which reflects the industry’s choice to move to the provinces. Online gaming companies, however, are doing the opposite, which is expanding in Metro Manila. An increase in co-working spaces was also noted.
“The constant quest to increase the bottom line by controlling capital expenditures is reshaping the office industry,” Leechiu said.
“It is pushing BPOs to seek alternate locations outside Metro Manila, encouraging online gaming firms to try Manila, and driving corporates seeking less stringent lease terms towards flexible workspaces,” he said.
Annual office take-up for 2017 is expected to increase by 19% as the online gaming compensates for the drop in BPO demand.