News » Pre-commitment levels for PH office market ‘still healthy’

Pre-commitment levels for PH office market ‘still healthy’

Pre-commitment levels for PH office market ‘still healthy’

Pre-commitment levels for the Philippine office market remained at healthy levels despite the coronavirus pandemic, said JLL Philippines. Rates of pre-commitment, or the leasing of space to occupiers even before the completion of supply, remained healthy for the first quarter of the year at 41%.

In an online forum, JLL Head of Research Janlo de los Reyes said that only 130,000 square meters (sq.m.) of supply or constructed office space was completed during the first half of the year. This is because construction work on office spaces was halted for two months due to the enhanced community quarantine (ECQ).

By sector, traditional offices was the biggest demand driver with a share of 46%. This was followed by the information technology and business process management sector (IT-BPM) with 37%, flexible workspaces with 14% and Philippine offshore gaming operators (POGOs) with 3%.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.