Office vacancy levels to remain manageable as BPO firms keep coming

Global property monitor Jones Lang Lasalle (JLL) said office vacancy rates in Metro Manila could go on edging higher through the next three years due to the introduction of new office buildings. However, JLL stressed that vacancy levels would stay manageable as the main occupiers, the business process outsourcing (BPO) firms, would also keep coming. The average vacancy rate across Metro Manila as of the end of 2015 was 6% and this could continue to rise slightly until 2018, JLL said. With Metro Manila as one of the most preferred destinations for outsourcing, more firms are expected to enter or expand in the Philippines, which in turn will keep vacancy rates within manageable levels.