by: Sarah Joson
Tuesday, December 23, 2014 |
According to Claro Cordero, head of research and consulting at real estate consultancy firm Jones Lang LaSalle (JLL), the demand in the real estate market will continue to thrive due to the likely growth in the outsourcing sector and the continuous inflow of remittances from Filipinos who are working abroad.
Megaworld Corp. takes the lion’s share of the real estate market accounting for 34,000 units, SM with 28,600 units, and DMCI with 21,700 units. As for sales take-up across all property segments, Ayala Land Inc. posted the largest value with P80 billion, and Megaworld took the second spot with P70 billion. The third spot was claimed by Vista Land with a total value of P39 billion.
This year, the biggest office space occupancy is accounted for by the business process outsourcing (BPO) sector - taking up more than 50-60 percent. The information technology sector is at the second spot with 11 percent of the office take-up.
Shiela Lobien, head of leasing of JLL Philippines, said nearly 180,000 square meters have been leased out this year. Their biggest transaction was a 51,500-sqm lease by a multinational BPO at Bonifacio Global City (BGC). She noted that BGC is a feasible choice for BPO companies because of its proximity to key business districts and the availability of infrastructure needed by BPO operations.
The executive added that BPO companies are not as affected by economic and political challenges compared to businesses in other industries, and the BPO sector will sustain the demand for office space in popular business hubs all over the country.
We can help you understand the possibilities. Reach out to us today.