Property stakeholders prepare for economic reopening — Colliers
Property developers and investors in the Philippines are “aggressively and proactively” looking for opportunities ahead of the reopening of the economy, said property investment management firm Colliers.
In its recently conducted poll, Colliers disclosed that office landlords are completing projects according to schedule as more employees are expected to return to on-site work.
In fact, about 67% of employee respondents said that their employers are already executing back-to-office plans.
Colliers stated that this push is enough to support the recovery of the office market beyond 2022.
Meanwhile, residential developers are choosing to create projects outside Metro Manila as key areas in the North and South Luzon remain preferred investment destinations.
Local tourism is also expected to recover this year as the border reopens and global travel continues.
According to data from the Department of Tourism (DOT), as of March 9, there were about 76,736 arrivals — 56% foreign, 44% balikbayans — to the country since the reopening of the borders.
DOT expects domestic trips to reach 84.8 million by year-end, a significant increase from 2021’s 36.5 million record.
