






{"id":11471,"date":"2021-03-11T12:27:33","date_gmt":"2021-03-11T05:27:33","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=11471"},"modified":"2021-06-04T16:09:02","modified_gmt":"2021-06-04T09:09:02","slug":"vaccines-trigger-growth-opportunities-for-the-philippines-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/vaccines-trigger-growth-opportunities-for-the-philippines-real-estate-market\/","title":{"rendered":"Vaccines trigger growth opportunities for the Philippines&#8217; real estate market"},"content":{"rendered":"<p><span data-contrast=\"none\">Pandemic-induced trends presume to help\u00a0progress the supply and demand for real estate\u00a0offerings<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_11478\" aria-describedby=\"caption-attachment-11478\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-11478 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1771995599.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1771995599.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1771995599.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1771995599.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1771995599.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1771995599.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-11478\" class=\"wp-caption-text\">Horizontal developments in urban areas right\u00a0outside Metro Manila\u00a0are expected to gain\u00a0appeal\u00a0due to flexible working arrangements. MichaelDEdwards\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"none\">As stated by <a href=\"https:\/\/www.cushmanwakefield.com\/en\/philippines\/insights\/philippine-property-market-news-february-2021\" target=\"_blank\" rel=\"noopener\">Cushman Wakefield Property Market News<\/a>, the rollout of COVID-19 vaccinations in the Philippines has triggered a recovery\u00a0<\/span><span data-contrast=\"none\">and\u00a0several growth opportunities to the real estate market this year, while the pandemic itself has emerged new trends and accel<\/span><span data-contrast=\"none\">erated existing ones such as remote working and increased online shopping.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The business process outsourcing (BPO) industry remains the key driver of office space take-up in the Philippines and is anticipated to <\/span><span data-contrast=\"none\">strengthen following the<\/span><span data-contrast=\"none\">\u00a0arrival and<\/span><span data-contrast=\"none\">\u00a0distribution of the COVID-19 vaccine. However, the industry is expecte<\/span><span data-contrast=\"none\">d to\u00a0<\/span><span data-contrast=\"none\">lack interest<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">and performance in 2021\u00a0<\/span><span data-contrast=\"none\">due to short-term investor\u00a0<\/span><span data-contrast=\"none\">pullback\u00a0<\/span><span data-contrast=\"none\">augmented by the poor performance of BPO companies linked to the travel and leisure sector. <\/span><span data-contrast=\"none\">Despite the nation\u2019s competitive and skilled\u00a0<\/span><span data-contrast=\"none\">labour<\/span><span data-contrast=\"none\">\u00a0pool, investor confidence will remain a challenge in the short-term as business uncertainties endure in the global market.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The pickup of overseas Filipino (OF) remittances\u00a0<\/span><span data-contrast=\"none\">may not happen before 2022 as countries with the greatest overseas Filipino workers (OFW) deployment such as Saudi A<\/span><span data-contrast=\"none\">rabia, Kuwait, Bahrain, and Oman may continue closing\u00a0<\/span><span data-contrast=\"none\">their borders for travelling.\u00a0<\/span><span data-contrast=\"none\">As a result, lower<\/span><span data-contrast=\"none\"> OF remittances will further decrease the demand for mid-range residential units, specifically residential condominium <\/span><span data-contrast=\"none\">developments in Metro Manila.\u00a0<\/span><span data-contrast=\"none\">That said, horizontal developments in urban areas right<\/span><span data-contrast=\"none\">\u00a0outside Metro Manila<\/span><span data-contrast=\"none\">\u00a0are expected to gain\u00a0<\/span><span data-contrast=\"none\">appeal<\/span><span data-contrast=\"none\">\u00a0due to flexible working arrangements and preference for\u00a0<\/span><span data-contrast=\"none\">vacant locations.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/covid-19-triggers-digital-transformation-in-taipei\/\" target=\"_blank\" rel=\"noopener\">More: COVID-19 triggers digital transformation in Taipei<\/a><\/p>\n<p><span data-contrast=\"none\">In the hospitality sector, the Department of Tourism (DOT) and Department of Trade and Industry (DTI) has allowed the holding of accredited meetings and special events in hotels<\/span><span data-contrast=\"none\">, as a strategy to ease the financial burden of hotel operators struggling to <\/span><span data-contrast=\"none\">overcome the stress of occupancy rates and dull tourism activities.\u00a0<\/span><span data-contrast=\"none\">The installation of new technologies to ensure health and safety protocols in other markets can be replicated in this industry.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The new logistics hub by\u00a0<\/span><span data-contrast=\"none\">MetroPac<\/span><span data-contrast=\"none\">\u00a0Movers Inc. (MMI) in Sta. Rosa Lagun<\/span><span data-contrast=\"none\">a<\/span><span data-contrast=\"none\">, commended to be the\u00a0<\/span><span data-contrast=\"none\">Philippines&#8217;s<\/span><span data-contrast=\"none\">\u00a0most sophisticated logistics complex<\/span><span data-contrast=\"none\">,<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">is scheduled to open in the fourth quarter of 2021 to meet the need<\/span><span data-contrast=\"none\">\u00a0for\u00a0<\/span><span data-contrast=\"none\">modern and secure supply chain<\/span><span data-contrast=\"none\"> solutions<\/span><span data-contrast=\"none\">. Some of the hub\u2019s offerings include 65 truck docks<\/span><span data-contrast=\"none\">\u00a0for speedy truck turnaround and several surveillance and security systems.\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The reopening of cinemas in g<\/span><span data-contrast=\"none\">eneral community quarantine (GCQ) areas\u00a0<\/span><span data-contrast=\"none\">was deferred to March, as the earlier decision could potentially lead to a new surge in infection cases. However, the announcement for reopening cinemas and entertainment establishments<\/span><span data-contrast=\"none\">\u00a0is seen to somehow induce consumer\u00a0<\/span><span data-contrast=\"none\">spending.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pandemic-induced trends presume to help\u00a0progress the supply and demand for real estate\u00a0offerings\u00a0<\/p>\n","protected":false},"author":12,"featured_media":21069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1079,1147,129,1064],"class_list":["post-11471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-economic-recovery","tag-growth-opportunities","tag-philippines","tag-recovery","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vaccines trigger growth opportunities for the Philippines&#039; 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