Cebu office vacancy rate to go down this year – Colliers

Colliers International said vacancy rate for office spaces in Cebu is currently at 10% but this is expected to go down this year with the coming in of more knowledge process outsourcing (KPO) firms. Colliers research manager Joey Roi Bondoc said Cebu’s vacancy rate is equivalent to 12,000 square meters out of the inventory of 120,000 square meters expected this year. Bondoc, however, said more KPO companies from Metro Manila are looking to expand in Cebu, especially offshore gaming operators. Offshore gaming facility’s minimum take-up is generally 10,000 square meters.