POGOs overtake BPO firms as top demand driver for office space
Philippine offshore gaming operators (POGOs) are now the country’s top office space demand driver, overtaking the BPO sector for the first time, Leechiu Property Consultants said. The office market has seen an increase in take-up in the last three weeks after Cambodia banned online casinos. David Leechiu, co-founder and CEO of the property firm, said nationwide demand from POGOs reached 386,000 square meters or 34% of the country’s total 1.1 million square meters in the first nine months of the year.
Office space commitment in Metro Manila also rose to 200,000 square meters in the last three weeks, despite new permit issuances being suspended by the Philippine Amusement and Gaming Corp (Pagcor), said Leechiu. He added that current operators are also eyeing locations outside Metro Manila, including Cebu and Clark. However, the office market will remain stable even if the POGOs decide to leave as the BPO sector can always occupy the space that POGOs will vacate, Leechiu said.
