Vaccination efforts trigger PH real estate recovery – Colliers
The Philippines’ property sector is expected to recover next year — with new contracts reaching 723,400 square meters (sq.m.) — due to the country’s strong vaccination campaigns, said property consulting firm Colliers International Philippines.
In its latest report, Colliers Research Associate Director Joey Roi Bondoc explained that the office, residential, retail, and industrial sectors will boost economic recovery in the country.
During the first three quarters of the year, Colliers recorded a total of 302,600 square meters (sq.m.) of office deals, up two per cent from the same period in 2020.
Colliers stated that despite the remote working model, several companies — including outsourcing agencies — are still actively looking for office space, driving the recovery of the office market across the country.
In an email to CNN Philippines, Colliers Office Services Director Maricris Sarino stated that office occupiers are ensuring that their layout still follows health and safety protocols in light of the new Omicron variant.
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