Developers, investors remain optimistic as jabs inject much-needed boost to property
There were plenty to take away from Colliers’ Q2 2021 Metro Manila Property Market presentation survey held last July 2021. First, office take-up and condominium pre-selling remain tepid across Metro Manila. We also see opportunities with outsourcing firms looking for office space within and outside Metro Manila, while residential developers continue to launch projects in anticipation of a demand recovery beyond 2021.
We urge office landlords should continue providing concessions to tenants to prioritize occupancy, while residential developers should further explore the viability of fringe locations or areas outside the traditional central business districts. In our view, developers should remain focused and strategic with their land-banking initiatives.
Hotel operators, on the other hand, should focus on new quarantine protocols as local travel should be the main source of demand, while logistics developers should modernize warehouses to capture growth as the logistics sector is propelled by e-commerce and a rebound in household consumption.
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