






{"id":7700,"date":"2020-04-09T18:11:31","date_gmt":"2020-04-09T11:11:31","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=7700"},"modified":"2021-06-04T14:56:18","modified_gmt":"2021-06-04T07:56:18","slug":"strategies-for-the-philippines-property-sector-to-survive-the-covid-19-outbreak","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/strategies-for-the-philippines-property-sector-to-survive-the-covid-19-outbreak\/","title":{"rendered":"COVID-19 business continuity strategies for the Philippine property sector"},"content":{"rendered":"<p><span class=\"TextRun SCXW32887115 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW32887115 BCX0\" data-wac-het=\"1\">Santos Knight Frank shares business tips to help the capital heavy sector amid<\/span><\/span><span class=\"TextRun SCXW32887115 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW32887115 BCX0\" data-wac-het=\"1\">\u00a0the outbreak<\/span><\/span><\/p>\n<figure id=\"attachment_7701\" aria-describedby=\"caption-attachment-7701\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-7701\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/04\/shutterstock_1641204217.jpg\" alt=\"\" width=\"1000\" height=\"672\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/04\/shutterstock_1641204217.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/04\/shutterstock_1641204217-300x202.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/04\/shutterstock_1641204217-768x516.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-7701\" class=\"wp-caption-text\">Makati, Metro Manila, Philippines. Z. Jacobs\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">Given the uncertainties brought by the current public health crisis to the global economy, the Philippines\u2019 real estate sector\u00a0<\/span><span data-contrast=\"auto\">expects to see\u00a0<\/span><span data-contrast=\"auto\">a sharp decline in sales<\/span><span data-contrast=\"auto\">\u00a0in the short to medium\u00a0<\/span><span data-contrast=\"auto\">term<\/span><span data-contrast=\"auto\">, reported\u00a0<\/span><a href=\"http:\/\/www.santosknightfrank.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">Santos Knight Frank.<\/span><\/a><\/p>\n<p><span data-contrast=\"auto\">The real estate service provider <\/span><span data-contrast=\"auto\">predict<\/span><span data-contrast=\"auto\">ed<\/span><span data-contrast=\"auto\">\u00a0that Metro Manila will have 810,000 square metres of new office developments\u00a0<\/span><span data-contrast=\"auto\">this year<\/span><span data-contrast=\"auto\">, less than half of the initial projection of <\/span><span data-contrast=\"auto\">1.8 million sqm.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">As tenants re-evaluate their plans to expand,\u00a0t<\/span><span data-contrast=\"auto\">heir analysis\u00a0<\/span><span data-contrast=\"auto\">showed\u00a0<\/span><span data-contrast=\"auto\">that the number of vacancies\u00a0<\/span><span data-contrast=\"auto\">in the capital\u00a0<\/span><span data-contrast=\"auto\">will\u00a0<\/span><span data-contrast=\"auto\">reach\u00a0<\/span><span data-contrast=\"auto\">10 percent from only five percent a year before<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\" data-wac-het=\"1\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cWe\u2019re experiencing a Black Swan event on a global scale that has slowed down the world economy and, with it, the property market. Liquidity, flexibility and business continuity are of utmost importance for companies to continue running<\/span><span data-contrast=\"none\">,<\/span><span data-contrast=\"none\">\u201d<\/span><span data-contrast=\"none\">\u00a0said chairman and<\/span><span data-contrast=\"none\">\u00a0CEO of Santos Knight Frank Rick Santos.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\" data-wac-het=\"1\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/new-reit-regulations-democratize-philippine-real-estate-economy\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>More: Newly-updated REIT framework to democratise the Philippine property market<\/b><\/a><\/p>\n<p><span data-contrast=\"auto\">To help the\u00a0<\/span><span data-contrast=\"auto\">real estate\u00a0<\/span><span data-contrast=\"auto\">sector cope during the COVID-19 pandemic, Santos Knight Frank\u00a0<\/span><span data-contrast=\"auto\">urges\u00a0<\/span><span data-contrast=\"auto\">businesses to prioritise cash and liquidity, particularly\u00a0<\/span><span data-contrast=\"auto\">since this sector is among the most capital-heavy.\u00a0<\/span><span data-contrast=\"auto\">They can control their liquidity by applying for a loan, searching\u00a0<\/span><span data-contrast=\"auto\">for funding\u00a0overseas\u00a0and selling their non-core assets.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\" data-wac-het=\"1\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Landlords and developers should also think of <\/span><span data-contrast=\"auto\">exploring payment structures to support tenants and customers, as well as focus on providing\u00a0<\/span><span data-contrast=\"auto\">good property and facility management services<\/span><span data-contrast=\"auto\">\u00a0because as Santos Knight Frank puts it, \u201cprotecting lives is tantamount to protecting assets.\u201d<\/span><\/p>\n<p><span data-contrast=\"auto\">Property firms<\/span><span data-contrast=\"auto\">\u00a0can also give back to the community by allowing essential services to utilise their existing yet unused properties<\/span><span data-contrast=\"auto\">, and even convert some of their spaces into warehouses for last<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">mile logistics, grocery stores, pop-up healthcare centres, offices and employee housing.<\/span><\/p>\n<p><span data-contrast=\"auto\">Lastly, they could also benefit from embracing recent technologies<\/span><span data-contrast=\"auto\">, such as<\/span><span data-contrast=\"auto\"> online platforms to increase sales and complement their physical offices, and <\/span><span data-contrast=\"auto\">virtual tours to enable sales activities to continue as people continue to practice social distancing.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Santos Knight Frank shares business tips to help the capital heavy sector amid\u00a0the outbreak<\/p>\n","protected":false},"author":9,"featured_media":20528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[750,794,129,638],"class_list":["post-7700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-covid-19","tag-office-developments","tag-philippines","tag-real-estate","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COVID-19 business continuity strategies for the Philippine property sector | Asia Property Awards<\/title>\n<meta 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