The business process outsourcing (BPO) and the Philippine Offshore Gaming Operators (POGO) sectors drove the demand for office space from January to May this year, despite the lockdowns imposed due to COVID-19.
According to data released by Leechiu Property Consultants (LPC), demand for office space grew 34 per cent in the first five months of the year to 211,000 square meters. This is 54,000 square meters higher than the 157,000 square meters recorded before the quarantines were imposed.
The BPO sector accounted for the biggest share of demand with 37 per cent, followed by POGOs with 13 per cent. The remaining 50 per cent was shared by traditional offices, corporate tenants, and flexible workspaces.