The country’s office property market will be turning less favorable for landlords from 2019 onward, according to property consulting firm Colliers Philippines. Colliers cited the slowdown in the business process outsourcing (BPO) sector and the unpredictability of the offshore gaming industry that has boomed almost overnight in the metropolis. Dinbo Macaranas, senior research manager at Colliers Philippines, noted that office supply had reached a record high at a time when demand from BPOs was slowing and the sustainability of Philippine Offshore Gaming Operators (POGOs) was yet to be proven, resulting in rising vacancy rates and flattening rental rates in Metro Manila.
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