O&O boom benefits office property segment – JLL

The proliferation of the country’s offshore and outsourcing (O&O) industry has benefitted the office property segment, according to property consultant Jones Lang Lasalle (JLL). In a recent market report, JLL said more demand for office space in the Philippines will be driven by the O&O industry, despite the recent Brexit, and because of strong confidence among foreign investors. JLL said the country is considered to be better positioned to withstand external headwinds because the economy is still largely domestically driven. Office supply in the Philippines is estimated to hit 2.8 million square meters between H2 of this year and 2020.