Davao office vacancy projected to surge this year

Davao office vacancy projected to surge this year

Real estate consultancy firm Colliers International Philippines is projecting the office space vacancy rates in Davao to drop 10 per cent this year, as leasing activities in the region are seen to fall on an annual basis.

Colliers Senior Research Manager Joey Roi H. Bondoc said accreditation for economic zones by the Philippine Economic Zone Authority (PEZA) would be an important factor to drive office space take-up, particularly from business process outsourcing (BPO) occupiers.

“We need to provide more options for BPO companies that are planning to expand outside of Metro Manila… I think it really makes sense for the government to approve more PEZA-proclaimed offices outside of Metro Manila, and of course Davao, being one of the major outsourcing sites, should get a lot of that PEZA-proclaimed office space,” Bondoc added.

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