IT-BPM, POGOs to occupy 400K sqm of office space
About 400,000 square meters (sq.m.) of office space in Metro Manila will be occupied by Information Technology-Business Process Management (IT-BPM) companies and Philippine Offshore Gaming Operators (POGOs) over the next six months, according to Sheila Lobien, CEO of property consultant Lobien Realty Group (LRG)
This figure represents 20% of the 2 million sq.m. of space left vacant amid the pandemic.
LRG attributed this demand to the back-to-office directive of IT-BPM companies operating in economic zones and the return of POGOs in the country.
IT-BPM traditionally accounted for 30 percent of the Metro Manila office stock, which is 12 million sq.m. There are no estimates on the POGOs additional requirement, but Lobien said POGOs used to occupy as much as 1.5 million sq.m. of space from 2015 onwards.
Although hybrid work arrangements are expected to be implemented by several companies, LRG is confident that it would not significantly affect the office space market in the country.
Post-pandemic office arrangements will require larger space to ensure social distancing to pandemic-proof office spaces. Lobien said the standard for IT-BPM has been set at 6.5 sq.m. per staff.
