PEZA-approved sites are still in-demand — LPC
The demand for Philippine Economic Zone Authority(PEZA) registered office buildings is still high despite the effects of the pandemic, according to real estate firm Leechiu Property Consultants (LPC).
In a press release, LPC said that PEZA-registered buildings in Bonifacio Global City (BGC) have a 4% vacancy rate, as compared to other business districts with 18%.
LPC Executive Director for Investment Sales Henry Cabrera stated that BGC now has the largest concentration of multinationals after businesses from Makati transferred to the area.
He added that “BGC has limited new office space supply coming in the next three years and demand will continue to grow as we recover from the pandemic.”
Alpha Plus Property Holdings, owner of BGC’s Ecoprime tower, believes that the high vacancy in the capital region will only be temporary.
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