The Philippine office market showed its resiliency as Colliers recorded the highest level of transactions during the COVID-19 pandemic. The vacancies in the various office submarkets, however, are still expected to increase as the level of vacated spaces still outstripped demand. Rents are expected to continue tracking a downward trajectory. In the meantime, opportunities abound for so long as the ‘jobs-to-be-done’ will be worked on by the commercial real estate stakeholders.
For more information on the office real estate market, please feel free to reach out to our Colliers Tenant Representation team.
Dom Fredrick Andaya
Director | Head of Tenant Representation