spot_img
27.8 C
Philippines
Friday, March 29, 2024

BPO seen to sustain real estate expansion

- Advertisement -

Leechiu Property Consultants said it expects total office demand to hit 1 million square meters by 2020 on sustained growth of the business process outsourcing industry and strong demand by online gaming and other industries.

LPC chief executive David Leechiu said in a news briefing total office takeup was expected to reach 937,000 sq. m. this year,  977,000 sq. m. in 2019 and 1.02 million sq. m. in 2020.

He said these targets were based on expectations that demand for BPO would be flat at 485,000 sq. m. from 2018 to 2020, while demand for online gaming was expected to go up by 15 percent annually.

Leechui said in terms of supply, property developers were to expected deliver P1.5 million sq. m. of office space in 2018, 1.7 million in 2019 and another 1.4 million sq. m. in 2020.

He said while surplus supply would continue to be high in 2018 and 2019, which was expected to hit 593,000 sq. m. and 746,00 sq. m. respectively, it was too early to warn about an oversupply of office space.

- Advertisement -

He said the BPO sector was expected to continue growing while online gaming and other industries were also expected to exceed expectations.

- Advertisement -

LATEST NEWS

Popular Articles