Thursday, June 1, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Demand for office space surged in second quarter

Jenniffer B. AustriabyJenniffer B. Austria
June 29, 2022, 7:40 pm
in Business, Corporate
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

Office space demand more than doubled in the second quarter to 255,000 square meters from 124,000 sq. m. in the first quarter on strong take-up from the business process outsourcing sector, Leechiu Property Consultants said Wednesday.

LPC director for commercial leasing Mikko Barranda said leasing transactions reached 379,000 sq. m. in the frist six months, representing 70 percent of 2021’s full year take-up.

Barranda said with 212,000 sq. m. of office requirements expected to be finalized in the second half, the 2022 office space demand would likely hit pre-pandemic levels.

He said the demand for office space in the second quarter came from IT-business process management firms, which accounted for 107,000 sq. m.

Philippine offshore gaming operators took up 21,000 sq. m., marking the first sign of leasing activity from the sector since March 2020.

“All the leasing activity in the past three months―from many new captives and companies doing business here for the first time―tell us outsourcing to the Philippines continues to be a reliable solution for companies in the West fighting impending global recession,” Barranda said.

Data showed that BPO workforce grew by 15 percent between 2019 and 2021 despite the pandemic.

BPO firms, at the height of the pandemic in 2021, hired some 120,000 full time employees even as many of them adopted hybrid worth set-up arrangement, where a portion of employees worked in the office and others worked from home.

LPC said that in the residential market, condominium sales jumped 54 percent in the second quarter from the previous quarter as developers offered extended and flexible payment terms and investors purchased residential units to lock in current prices.

LPC director Roy Golez said, however, that sales to lower-income market declined by 89 percent, as buyers prioritized purchasing necessities over the security of owning a home.

New launches slowed down by 78 percent amid rising interest rates, inflation and construction materials procurement issues due to lockdowns in source countries.

Golez said this scenario might affect the lower middle residential condominium segment and the middle-income market.

Golez said LPC expects residential sales to overseas Filipino market to increase on the strengthening of the dollar against the peso.

LPC said lot prices in Southern Mega Manila steadily grew by 7 percent to 15 percent annually. Among the biggest gainers were properties at Rockwell South which launched in 2019 at P35,000/sq. m. and shot up by 52 percent to P53,1000 per sq. m. recently.

Tags: BPObusiness process outsourcingLeechiu Property Consultantsoffice space
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

BSP expects inflation to fall further in May

byJulito G. Rada
May 31, 2023, 9:55 pm
0
8
BSP readies big interest rate hike this month

Inflation likely eased further to as low as 5.8 percent in May from 6.6 percent in April following the rollback...

Read more

DOTr, Sumitomo sign P7.38-b deal to rehabilitate MRT 3

byDarwin G. Amojelar
May 31, 2023, 9:50 pm
0
8
MRT-7 seen to start partial operations in 2022

The Department of Transportation said Wednesday it signed a P7.38-billion contract with Sumitomo Corp. for the rehabilitation and maintenance of...

Read more

DBP appeals proposed merger with LandBank

byJulito G. Rada
May 31, 2023, 9:45 pm
0
8

State-run Development Bank of the Philippines said Wednesday it will continue to exhaust available remedies under existing laws on its...

Read more

CPG buys Mitsubishi’s stake in PHirst Park Homes

byJenniffer B. Austria
May 31, 2023, 9:40 pm
0
8
Century Properties reports strong sales

Century Properties Group Inc. said Wednesday it is buying out Mistubishi Corp.’s 40-percent stake in affordable housing joint venture for...

Read more

ERC asks 25 electric co-ops on pass-through fuel costs

byAlena Mae S. Flores
May 31, 2023, 9:35 pm
0
8
ERC issues resolution lifting moratorium on issuance of licenses to retail electricity suppliers

The Energy Regulatory Commission said Wednesday it issued 33 show cause orders directing 25 electric cooperatives and three private distribution...

Read more

Market tumbles; SMIC bucks downtrend

byManila Standard
May 31, 2023, 9:30 pm
0
8
Stock market surges; PLDT, Globe advance

Stocks tumbled Wednesday on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit...

Read more

Print Edition

View More

Recent Posts

  • Urban gardening
  • Maharlika bill goes to Palace
  • Economic managers laud passage of MIF with ‘several safeguards’
  • Solons commend Speaker for ‘exceptional’ leadership
  • House suspends Teves for another 60 days amid refusal to return to PH
  • PBBM: Gov’t, LGUs must digitalize transactions
  • Typhoon ‘Betty’ affects close to 15,000 people
  • Radio broadcaster gunned down in Oriental Mindoro

Advertisement

Latest News

PBBM: Gov’t, LGUs must digitalize transactions

byVince Lopez
June 1, 2023, 12:40 am
0
8
Villacorta new LTO officer-in-charge

The Marcos administration is pushing for more digitized transactions in all government agencies, including at local government units (LGUs), to...

Read more

Typhoon ‘Betty’ affects close to 15,000 people

byJoel E. Zurbanoand1 others
June 1, 2023, 12:35 am
0
8
Puerto bet tops Bb. Pilipinas pageant

By Joel E. Zurbano and Charles Dantes A total of 14,908 people or 3,821 families have been affected as of...

Read more

Radio broadcaster gunned down in Oriental Mindoro

byCharles Dantes
June 1, 2023, 12:30 am
0
8
Southwoods nails Seniors’ Fil golf crown

A radio broadcaster was shot dead outside his home in Calapan City, Oriental Mindoro on Wednesday, police said, the latest...

Read more

PH’s power grid performs better under NGCP

byAlena Mae S. Flores
June 1, 2023, 12:25 am
0
8
Maguing power tower damaged by bomb

By Alena Mae S. Flores The National Grid Corp. of the Philippines said Wednesday the power grid’s performance continues to...

Read more

Villacorta new LTO officer-in-charge

byCharles Dantes
June 1, 2023, 12:20 am
0
8
Villacorta new LTO officer-in-charge

The Department of Transportation on Wednesday named lawyer Hector Villacorta as the officer-in-charge of the Land Transportation Office. In a...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App