MANILA, PHILIPPINES — Colliers Philippines believes that Metro Cebu remains one of the most attractive expansion hubs for outsourcing firms in the Philippines.
According to real estate consultancy firm Colliers, office transactions outside Metro Manila reached 29,200 square meters (sq.m.) in Q1 2023, down 37% from the 46,300 sq.m. recorded a year ago.
Of these provincial transactions, Cebu contributed 55% of these deals, equivalent to 16,100 sq.m.
Outsourcing firms dominate transactions, accounting for 60% of total deals in Metro Cebu. Among the notable transactions are Dexcom, BPO Seats, and Cloudstaff. These firms occupied spaces in the Cebu Business Park.
“Metro Cebu is ripe for shared services and multinational companies as they take advantage of the existing skilled labor and infrastructure,” said Colliers Associate Director for Office Services – Tenant Representation Kevin Jara.
He added that landlords should capture the demand by introducing quality office buildings in their pipeline.