EXCERPT

INFORMATION technology-business process management (IT-BPM) firms are expected to drive demand for office spaces this year, although overall office leasing activity is likely to remain subdued in the first half of 2022, JLL Philippines said.

“For the office market, we’re seeing signs of market stability. For Q4 2021, what we saw was a moderate take-up of 75,713 square meters (sq.m.) in gross leasing volumes,” JLL Philippines Head of Research and Consulting Janlo C. de los Reyes said in a briefing last week.

While lower than previous quarters, Mr. De los Reyes noted sentiment has improved.

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