{"id":31305,"date":"2022-12-07T12:00:15","date_gmt":"2022-12-07T05:00:15","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=31305"},"modified":"2022-12-08T02:25:02","modified_gmt":"2022-12-07T19:25:02","slug":"provinces-in-the-philippines-drive-office-demand-as-they-aim-to-attract-more-talent","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/provinces-in-the-philippines-drive-office-demand-as-they-aim-to-attract-more-talent\/","title":{"rendered":"Provinces in the Philippines drive office demand as they aim to attract more talent"},"content":{"rendered":"

BPO firms account for more than 56 percent of these deals<\/span><\/p>\n

\"\"
Provincial office transactions QoQ went up throughout the first three quarters of 2022, reaching 145,000 sq m. Jeaniep\/Shutterstock<\/figcaption><\/figure>\n

There has been a growth in office demand in the provincial areas in the Philippines as they aim to attract more talent, particularly information technology-business process management (IT-BPM) firms, reported <\/span>Philstar Global<\/span><\/a>.<\/span><\/p>\n

\u201cWith BPO (business process outsourcing) firms now allowed to implement 100 percent work-from-home setup without any adverse impact on their tax incentives, many registered business enterprises (RBEs) are now seen to expand their office footprint outside Metro Manila and fast-track the setup of their operations in the provinces, long been seen as an untapped resource for BPO players talent-wise,\u201d said Tricia Pacete, Colliers Philippines market analyst for office services-landlord.<\/span><\/p>\n

Provincial office transactions QoQ went up throughout the first three quarters of 2022, reaching 145,000 sq m. BPO firms account for more than 56 percent of these deals.<\/span><\/p>\n

More: The Philippines\u2019 office market continues to gain momentum as H1 2022 comes to a close<\/strong><\/a><\/p>\n

With around 34,000 sq m of office transactions, Cebu remains the top provincial destination for BPOs, followed by Davao (21,000 sq m), and Pampanga (9,000 sq m).<\/span><\/p>\n

Office space demand in the country reached its peak in Q3 2022 with 313,000 sq m, the highest since January 2020, especially as the IT-BPM sector continues to thrive. Additionally, this figure is 240 percent higher than in the same period last year, according to the <\/span>Manila Bulletin<\/span><\/a>.<\/span><\/p>\n

The IT-BPM sector accounted for 332,000 sq m YTD 2022.<\/span><\/p>\n

Over the past two years, the IT-BPM industry has leased 777,000 sq m or 48 percent of total demand from Q1 2020 to Q3 2022, amounting to 1.6 million sq m.<\/span><\/p>\n

The IT-BPM sector accounted for 222,000 sq m of net demand in the past two years, driving the net demand of 314,000 sq m YTD 2022. Even with challenges brought on by the pandemic, the segment posted net demand of 513,000 sq m., representing a seven percent increase in their footprint, now at 7.5 million sq m.<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email: propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

BPO firms account for more than 56 percent of these deals<\/p>\n","protected":false},"author":12,"featured_media":31306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[388,1154],"class_list":["post-31305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-commercial-real-estate","tag-office-market","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"\nProvinces in the Philippines drive office demand as they aim to attract more talent | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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