THE office market should let go of the online gambling firm tenants that operate in the country even if most of them have fled the country, a top executive of Colliers Philippines said on Thursday.
Based on the latest Colliers quarterly report released during the webinar, Jara bared that office transactions in the first nine months of 2022 rose by 72 percent to 495,600 square meters compared to the 288,300 sq m in the same period last year. Such improved leasing activity, according to him, is indicative that the office market in Metro Manila is sustaining its recovery.
Quarter-on-quarter , the report showed robust office performances, with deals reaching 168,700 sq m from July to September of 2022 alone, or 99,300 sq m higher than the 69,400 sq m during the same period a year ago. In terms of new office space, there were 102,700 sq m delivered in the third quarter, lower than the 146,700 sq m from April to June of this year and the 156,600 sq m from July to September 2021.