Property consultant Colliers International recently reported that Philippine Offshore Gaming Operators (POGO) have vacated 123,000 square meters (sq.m.) of office space since the escalation of the COVID-19 pandemic.
Colliers said a continued reduction in POGO-occupied spaces, particularly those found in Philippine Economic Zone Authority (PEZA)-accredited buildings will benefit business process outsourcing (BPO) locators in need of additional spaces for their operations.
The property consultant also noted that the available total area size per building are ranging from 1,000 up to 33,000 sq.m., which are handed over either in fully fitted or as-is-where-is conditions, and can be found in Alabang, Quezon City and Ortigas.
“Should POGOs continue to downsize, 294,000 sq.m. of their remaining office footprint are in PEZA-registered spaces, which could benefit BPOs with immediate office requirements, whether permanent or temporary,” said Dom Fredrick Andaya, Colliers director for tenant representation.