News » Cebu’s business spaces and manpower remain competitive despite pandemic – Colliers

Cebu’s business spaces and manpower remain competitive despite pandemic – Colliers

Cebu’s business spaces and manpower remain competitive despite pandemic – Colliers

Real estate agency Colliers Philippines said Metro Cebu’s business parks’ competitiveness and availability, as well as its quality of manpower, remained strong despite the upset caused by the COVID-19 pandemic.

However, the firm sees Metro Cebu office rents declining by 5 per cent this year due to softer demand and rising vacancy. As of the third quarter, rents in the city’s office space averaged PHP654 per square meter.

“We see new office completions in 2020 for Metro Cebu dropping by 81 per cent to 37,300 sq meters (401,300 sq feet) compared to our initial forecast of 194,800 square meters (2.1 million square feet). New supply should pick up in 2021 which should include office buildings that were deferred in 2020,” said Joey Bondoc, senior research manager at Colliers Philippines.

Further, Colliers projects vacancy to rise to 12.8 per cent in 2020 from 11.6 per cent in 2019. Vacancies across major business districts such as Mactan Newtown have been rising.

Read more here. 

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.