Global real estate services leader and provider Santos Knight Frank recently presented opportunities for the office, hotel, and resort (hospitality), and logistics sectors within the next five years, citing several positives in terms of their development.
The hospitality industry is expecting to see over 10,800 new hotel rooms cropping up in nationwide metropolis areas between 2019 and 2023. The logistics market – a significant emerging market – is expected to rise further within the next half decade along with the advent of e-commerce. The office sector, particularly the IT-BPOs and the co-working spaces, are also seen to flourish in the near future with upwards of half a million new offices expected in key areas in Metro Manila.
With all these developments quickly rising, and with the realization of Real Estate Investment Trust (REITs) in the country very soon, Santos Knight Frank Chairman and CEO Rick Santos enthused that the Philippine Property Market has truly made great strides. Photo shows (from left to right) Kash Salvador (Director for Investment and Capital Markets), Rick Santos, Jan Custodio (Senior Director of Research & Consultancy), and Ian Perez (Director of Occupier Services and Commercial Agency) at the press conference for the Philippines’ Next Growth Areas, held at the Shangri-La Hotel in Makati City.