Return-to-office boosts office market absorption

Philippine News Agency

Apr 29, 2022

EXCERPT


For the full year 2022, net absorption for office space is projected to reach 350,000 square meters.


More office space will be completed this year, adding 821,900 square meters of available office space, 60 percent of which are located in Ortigas central business district, Makati fringe, and the Bay Area.


Colliers Philippines also advised tenants to take advantage of lower office rents, which declined by 3.1 percent in the first quarter of 2022 compared to the fourth quarter of 2021.


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