Philippines flexible spaces expected to grow by 10%

Flexible workspaces in the Philippines are expected to grow by 10% annually in the next three years, according to Colliers International.

Colliers International noted that flexible workspace competition is also tightening up over the next few years, but demand from various enterprises will help these alternative offices grow.

Public infrastructure outside of Metro Manila will also allow for more office and residential developments in and outside of the capital, including Luzon, Bulacan, Laguna, and more. Expansion in these areas is due to the trail, expressway, and toll road projects that will be completed between 2020 and 2022. Quezon City and North Luzon will particularly benefit from these completed railways.

“In 2019, Colliers recommends and expects more aggressive and strategic land banking by developers around the first three stations in Quezon City. This could even extend to key cities in Northern Luzon such as San Jose del Monte in Bulacan which is likely to benefit from the interconnection brought about by the MRT-7 due to be completed in 2021,” Colliers said.
Office demand will also be driven by knowledge process outsourcing (KPO) companies and Philippine offshore gaming operators (POGOs).

Colliers predicts that offshore gaming companies will occupy about 200,000 to 300,000 square meters of office space by next year.