THE healthcare sector and other essential industries are seen to lead the take-up in office spaces during this pandemic as property consultant firm Colliers Philippines expects a substantial drop in Philippine Offshore Gaming Operator (Pogo) deals.
In its market report, Colliers pointed out that landlords should be more accommodating to non-Pogo occupants, especially with the projected slow take-up from Chinese offshore gaming firms this year.
“Colliers believes that landlords should offer extended fit-out periods and handover dates for new leases affected by the government-imposed lockdown. Landlords should also consider offering payment term concessions for tenants,” the firm said.
Colliers said outsourcing firms and services firms that are continuing to expand during the pandemic, such as those from technology, telecommunications and health information management industries should take a moment to assess their space requirements and take advantage of the current rental correction.
Meanwhile, Colliers also pushed for the approval of more Philippine Economic Zone Authority (Peza) spaces to entice more incentive-seeking outsourcing companies.
Colliers said it sees more aggressive absorption in the next 12 to 24 months as tenants take advantage of available spaces in the market to prop up the outsourcing expansion.
Peza is promoting the creation of special economic zones in the countryside.
“Even with the difficulties brought about by the Covid-19 pandemic, Peza will continue in attracting investors to the country and promoting the creation of special economic zones, especially in the countryside that will become economic drivers in every region,” Peza Director General Charito Plaza said in a statement.
Plaza said the agency is coordinating with various other agencies for faster implementation of the plans.
These agencies are the Department of Information and Communications Technology to improve the information technology infrastructure, the Department of Transportation and Department of Public Works and Highways to create more transportation and logistics hubs and public works infrastructure in every region, the Technical Education and Skills Development Authority to make more skills training programs to address the manpower needs of the industries and the Department of Trade and Industry.
“We need to work together in promoting investments and ensuring positive investment climate, infrastructure and supply chain in the country and make the Philippines an investment haven in Asia,” Plaza said. (JOB)