{"id":9279,"date":"2020-09-09T17:08:01","date_gmt":"2020-09-09T10:08:01","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9279"},"modified":"2021-06-04T15:40:50","modified_gmt":"2021-06-04T08:40:50","slug":"colliers-suggests-lucrative-opportunities-to-transform-philippine-real-estate-assets","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/colliers-suggests-lucrative-opportunities-to-transform-philippine-real-estate-assets\/","title":{"rendered":"Colliers suggests lucrative opportunities to transform Philippine real estate assets"},"content":{"rendered":"

The property consultancy firm believes that this is crucial for the sector\u2019s survival<\/span><\/span> amid pandemic<\/span><\/span><\/p>\n

\"\"
A resort overlooking the pool and the lush mountains in Palawan Island, Philippines. TanyaKeisha\/Shutterstock<\/figcaption><\/figure>\n

As the pandemic takes a toll on the Philippine economy,\u00a0<\/span>property consultancy firm Colliers International Philippines\u00a0<\/span>recommends property owners and landlords to\u00a0<\/span>consider repurposing\u00a0<\/span>their assets based on consumers\u2019\u00a0<\/span>evolving\u00a0<\/span>beh<\/span>aviour<\/span>,\u00a0<\/span>reported\u00a0<\/span>Business World<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

Though asset adjustments would depend on the real estate category, they believe that the <\/span>evolving needs and<\/span>\u00a0financial capabilities<\/span>\u00a0of consumers should still be\u00a0<\/span>recognised.<\/span>\u00a0<\/span><\/p>\n

This is particularly crucial for businesses that plan to establish\u00a0<\/span>a hub-and-spoke model, which means \u201coccupiers reduce the reliance of a single headquarters location for a more dispersed occupancy strategy,\u201d they explained in the<\/span>\u00a0report.<\/span>\u00a0<\/span><\/p>\n

For developers that lease mall spaces, the firm suggests transforming vacant spaces into <\/span>co-working\u00a0<\/span>venues or additional space for warehouses<\/span>, particularly since movement restrictions have been keeping the foot traffic in malls low.<\/span>\u00a0<\/span><\/p>\n

More: The Philippines finds REIT timing for property investment<\/strong><\/a><\/p>\n

H<\/span>otel operators, which\u00a0<\/span>is expected<\/span>\u00a0to receive only 30 percent occupan<\/span>cy in 2020,\u00a0<\/span>can also turn their leasing spaces into co-working spaces, as well as co-living facilities<\/span>. Meanwhile,\u00a0<\/span>residential d<\/span>evelopers\u00a0<\/span>are\u00a0advised<\/span>\u00a0to offer more appealing payment t<\/span>erms to continue luring investors and tenants.<\/span>\u00a0<\/span><\/p>\n

As for\u00a0<\/span>warehousing companies,\u00a0<\/span>Colliers proposes\u00a0<\/span>digitising its operations to cater to the growing needs of the e-commerce industry.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span>\u201cThe Philippine economy continues to reel from the impact of the pandemic and lockdowns, officially entering into a recession. Colliers believes that conversion and repurposing of assets are crucial amid the pandemic and global economic\u00a0<\/span>downturn,\u201d the<\/span>\u00a0report\u00a0<\/span>concluded<\/span>.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The property consultancy firm believes that this is crucial for the sector\u2019s survival amid pandemic <\/p>\n","protected":false},"author":9,"featured_media":20723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[488,129,512,888],"class_list":["post-9279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-hotels","tag-philippines","tag-residential","tag-warehouses","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"\nColliers suggests lucrative opportunities to transform Philippine real estate assets | 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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