Flexible workspaces in PH capital see a rise in demand
The demand for flexible workspaces in Metro Manila — the capital region of the Philippines — surged by 112% this year, said workspace innovation firm The Instant Group.
In its latest report, Instant stated that the “flex industry across Metro Manila has continued to strengthen, driven by the widespread adoption of hybrid working models from a wider selection of industries and larger occupiers.”
The paper added that the Philippines is “still a very attractive market” for international companies and Business Process Outsourcing (BPO) firms due to the low labor costs and diverse talent pool.
Instant noted that many BPOs are now using flexible workspaces as part of their long-term hybrid work solutions amid the coronavirus pandemic.
Out of the 16 cities and one municipality in the Metro, Manila had the highest desk rate at $291 per month, followed by Taguig City and Bonifacio Global City with $273. Meanwhile, the desk rate in Quezon City is the most affordable at $216 per month.
Instant added that the growing demand and supply struggles would push desk rates for flexible office spaces even higher.
“Although supply is expanding, demand is predicted to potentially outstrip supply, so further investment is needed to keep pace. High vacancy rates in the traditional sector means that there is significant room for growth,” the report said.
