Office sector still impacted by POGO exodus
Despite the rising office space demand within the Business Process Outsourcing (BPO) sector, it is unlikely to cushion the losses from the exodus of Philippine Offshore Gaming Operators (POGOs), said analysts.
While BPO firms can take up ecozone spaces vacated by POGOs, these companies are reducing office space requirements, said Colliers Philippines Senior Research Manager Joey Roi H. Bondoc said in a phone interview with BusinessWorld.
In addition, Santos Knight Frank’s senior director of occupier services Morgan McGilvray said that outsourcing companies’ growing demand is focused on remote work. However, its office demand can surge when 100% occupancy is allowed.
McGilvray projected a Q4 2021 or early 2022 recovery.
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