Demand still growing for flexible workspaces – Colliers report
Demand for flexible workspace has been growing rapidly in the Philippines, and is expected to grow by 10 percent annually over the next three years, according to Colliers International. The increased demand is primarily due to the continuing expansion of micro, small and medium-sized enterprises, multinational companies and outsourcing firms. The demand is also being driven by the expansion of knowledge process outsourcing firms and the Philippine Offshore Gaming Operators (POGOs), which are expected to expand in Cebu, Laguna, Clark and Pampanga due to their high supply of office space and residential units. The real estate consultancy firm is also seeing a more pronounced dispersal of office and residential developments outside of Metro Manila for next year. Colliers said POGOs will occupy between 200,000 sq.m. and 300,000 sq.m. of office space next year. There is also aggressive land acquisition by property developers in northern and southern Luzon, according to Colliers.
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