{"id":13748,"date":"2021-04-29T11:36:42","date_gmt":"2021-04-29T04:36:42","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12171"},"modified":"2021-06-04T16:12:25","modified_gmt":"2021-06-04T09:12:25","slug":"business-districts-outside-philippines-capital-help-drive-recovery","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/business-districts-outside-philippines-capital-help-drive-recovery\/","title":{"rendered":"Business districts outside the Philippines&#8217; capital help drive recovery"},"content":{"rendered":"<p><span data-contrast=\"auto\">Leading developers have been heavily investing in areas such as Cebu, Laguna, Pampanga, and Davao\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_12172\" aria-describedby=\"caption-attachment-12172\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-12172 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/04\/processed-5.jpeg\" alt=\"\" width=\"1000\" height=\"562\" \/><figcaption id=\"caption-attachment-12172\" class=\"wp-caption-text\">Outsourcing firms occupied office spaces in the rural areas due to their availability in economic zones. Source: MichaelDEdwards\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">According to\u00a0<\/span><a href=\"https:\/\/www.bworldonline.com\/emerging-cities-to-help-drive-property-market-recovery\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"auto\">BusinessWorld<\/span><\/a><span data-contrast=\"auto\">, emerging business districts outside Philippines<\/span><span data-contrast=\"auto\">\u2019 capital<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">are\u00a0<\/span><span data-contrast=\"auto\">expected to help drive post-pandemic growth of the real estate market, said analysts from real estate services firms.\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=\"auto\">Claro Cordero Jr., head of research, consulting, and advisory services at Cushman &amp; Wakefield said that the <\/span><span data-contrast=\"auto\">increasing\u00a0<\/span><span data-contrast=\"auto\">demand for outsourcing office space, high-<\/span><span data-contrast=\"auto\">en<\/span><span data-contrast=\"auto\">d<\/span><span data-contrast=\"auto\"> residences, and e-commerce warehouse space has<\/span><span data-contrast=\"auto\">\u00a0sprung up during the coronavirus pandemic.\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=\"auto\">Key government infrastructure projects have also led to some growth in areas outside Metro Manila\u2019s financial hubs.<\/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\">\u201cWe\u2019ve seen the completion of these new infrastructure developments\u2026 they are all supportive of the growth of property values in areas outside of Makati and BGC (Bonifacio Global City). That also will enhance urban renewal in other areas that have low potential for development,\u201d said Cordero. <\/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\">Major developers have been putting down \u201ca considerable amount of investment\u201d in areas like Laguna, Cebu,\u00a0<\/span><span data-contrast=\"none\">Pampanga<\/span><span data-contrast=\"none\">, and Davao.\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\">\u201cBut there\u2019s still a lot of work to do, not just in the bridges and all those road networks. I think what is important also now \u2014 and as we take note of best practices from other global cities \u2014 public transport is one area which we think still needs a lot of thinking and a lot of focus from the government,\u201d he add<\/span><span data-contrast=\"none\">ed.\u00a0<\/span><span data-contrast=\"none\">\u201cThat will not only benefit the middle class and the upper income strata, but also more importantly, the workforce. And if you have a workforce that is\u00a0<\/span><span data-contrast=\"none\">fairly mobile<\/span><span data-contrast=\"none\">\u00a0from one point to another in the city, then you drive economic activity.\u201d<\/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\">Last year, the government and an outsourcing industry group noted 25 \u201cdigital cities\u201d to focus on encouraging outsourcing development. <\/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\">Phillip A\u00f1onuevo,\u00a0<\/span><span data-contrast=\"none\">Leechiu<\/span><span data-contrast=\"none\"> Property Consultants executive director for commercial leasing, mentioned the\u00a0<\/span><span data-contrast=\"none\">outsourcing sector\u2019s office space demand last year as the country fought against the pandemic.\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\">He said that outsourcing firms occupied office spaces in the rural areas due to their availability in economic zones. Demand from <\/span><span data-contrast=\"none\">outside\u00a0<\/span><span data-contrast=\"none\">provinces accounted for 43 percent<\/span><span data-contrast=\"none\">\u00a0of outsourcing take-up in the country for the\u00a0<\/span><span data-contrast=\"none\">first time<\/span><span data-contrast=\"none\">\u00a0last year.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/desaru-coast-of-malaysia-offers-prime-real-estate-investment-opportunities\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Desaru Coast of Malaysia offers prime real estate investment opportunities<\/strong><\/a><\/p>\n<p><span data-contrast=\"none\">Morgan McGilvray, senior director of occupier services at Santos Knight Frank, mentioned that growing demand in outsourcing is concentrated on remote work, with companies uncertain to lease more office spaces until all workers are allowed back on site.\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\">\u201cWhen companies become confident in using their offices then I think it will go back to close to those 2019 levels,\u201d said A\u00f1onuevo.<\/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\">Companies may start planning new investments towards the third quarter, A\u00f1onuevo said, noting that such plans depend on the vaccine rollout.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:360}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading developers have been heavily investing in areas such as Cebu, Laguna, Pampanga, and Davao\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":19721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1335,129,1138,1064],"class_list":["post-13748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-emerging-cities","tag-philippines","tag-post-pandemic","tag-recovery","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Business districts outside the Philippines&#039; 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