Tag: office space

Philippines office leasing market rebounds strongly despite POGO ban

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Recently the real estate advisory firm Leechiu Property Consultants (LPC) announced that the office leasing market of the Philippines rebounded strongly in the first half of 2025 even though there were many Philippine Offshore Gaming Operators (POGOs) that closed down due to the government ban on them, according to a Philippine News Agency (PNA) news article. It should be noted that the POGO ban resulted in weaker demand for office spaces in 2024.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The office leasing market sustained a strong momentum in the first half of 2025, with demand reaching 67 percent of full-year 2024, despite the withdrawal of Philippine Offshore Gaming Operators (POGO), real estate advisory firm Leechiu Property Consultants (LPC) said Thursday.

“Demand has been strong for the first half of the year. We believe it will continue. We never know what will happen, but we are optimistic about it,” Mikko Barranda, LPC director for Commercial Leasing, said during the presentation of the LPC Q2 2025 Philippine Property Market Report in Makati City.

The Information Technology and Business Process Management (IT-BPM) took up 50 percent of the total leasing activity, or 365,000 square meters, in the first half of 2025.

Traditional industries, on the other hand, accounted for 48 percent, or 354,000 sqm, of the demand, while government offices took the rest of the share at 21,000 sqm.

At least 79 percent, or 581,000 sqm, of the overall demand came from Metro Manila, with Bonifacio Global City representing 146,000 sqm, while provincial demand was at 21 percent to 159,000 sqm, with Cebu covering 81,000 sqm.

Barranda reported that the net demand has breached more than 50 percent to 271,000 sqm of the firm’s projection for the year.

“Contractions are tapering off and net take-up in terms of what we have projected back in Q1, which we feel will be at 490,000 sqm levels, were already touching 55 percent,” he said.

In the absence of POGOs, LPC Chief Executive Officer David Leechiu said this surge is already the highest since 2017.

Let me end this post by asking you readers: What is your reaction to this recent development? How far do you think the current surge of office leasing market will go by the end of the year? Do you think there are a lot more companies out there actively searching for office spaces to rent?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Office market shrinks in connection with nationwide POGO ban

Office market shrinks in connection with nationwide POGO ban

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It has been months since the nationwide ban on POGOs (Philippine Offshore Gaming Operators) was declared and this resulted in the shrinking of the office market as demand for office spaces weakened, according to a Manila Bulletin business news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

The total ban on the Philippine Offshore Gaming Operations (POGO) contributed to a significant decrease in the demand for office spaces in the third quarter of the year, property brokerage firm Leechiu Property Consultants (LPC) said.

In a statement, LPC said office take-up from July to September dropped by 21 percent to only 215,000 square meters (sqm), with the POGO industry’s downsize and other tenants’ transfer to newer spaces contributing to an increase in vacancies.

The POGO industry was one of the main drivers of the residential and office markets at the time of the Duterte administration, until getting totally banned by President Ferdinand Marcos Jr. this year amid their venture into illicit areas.

“The grave abuse and disrespect to our system and laws must stop. We need to stop them and their abuse to our country,” Marcos Jr. said.

Despite the decline in office take-ups this quarter, LPC said that the country is on track to surpass the one million sqm office demand registered last year.

“The year-to-date demand for office space has reached 900,000 sqm, marking an 11 percent increase over the first three quarters of 2023,” it said.

In terms of leasing pattern, LPC said tenants are now shifting from higher-quality buildings to offices that can offer better and larger spaces.

In terms of location, the bay area continues to be the top choice, with office take-up driven primarily by government agencies occupying 80,000 sqm in the first nine months of the year. Outside Metro Manila, Cebu remains the top provincial market with the higher take-up coming from the IT-BPM industry.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the shrinking of the office market is temporary at best and a recovery could begin before the end of the year? Do you favor the ban on POGOs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

New Regus workspace facility opening soon in Las Piñas City

New Regus workspace facility opening soon in Las Piñas City

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If you are looking additional space for work in Las Piñas City, a new workspace center (coworking space) by Regus will soon be established inside the Colours Town Center along Alabang-Zapote Road (by the corner of Marcos Alvarez Avenue) as a result of an agreement signed, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld report. Some parts in boldface…

INTERNATIONAL Workspace Group (IWG) recently inked a 10-year management agreement with Kyleson, Inc. to open a Regus franchise center in Las Piñas City.

The flexible workspace center, located within the Colours Town Center, will have 195 workstations and 1,200 square meters (sq.m.) of co-working desks, meeting rooms, and private offices. This will be the 26th Regus center in the Philippines.

“Our partnership with Colours Town Center combines our more than 30 years track record in equipping workspaces with the infrastructure and support services with ideal, modern locations to ensure employees experience the benefits of working wherever is most convenient for them without sacrificing productivity, or the benefits of collaboration,” Lars Wittig, IWG country manager, said in a statement.

Mr. Wittig noted worker preferences across Asia Pacific are shifting in favor of hybrid working, and companies that fail to adopt may lose their best workers.

“Adopting flexible working arrangements is crucial to business sustainability and long-term resilience,” he added.

Let me end this piece by asking you readers: If you are a Las Piñas City resident, what is your reaction to this new development? Are you excited learning that a new Regus coworking facility will be opened within the city? Do you consider Las Piñas City to be lacking of suitable office work space?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco/.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673