Tuesday, January 31, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Spotlight Manila Standard 35th Anniversary Issue: Revving for the Leap Forward

Demand for office space expected to remain robust

Jenniffer B. AustriabyJenniffer B. Austria
February 11, 2022, 3:45 am
in Manila Standard 35th Anniversary Issue: Revving for the Leap Forward, Spotlight
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

Demand for office space is expected to remain robust this year, even as the work-from-home setup will likely persist under the new normal, according to property consultants.

Leechiu Property Consultants and Colliers International Philippines said while many companies were struggling to get their workers back to the office amid the lingering pandemic, they have an optimistic outlook for the office sector which showed resilience in the past year.

New tenants are expected to come in, while existing ones are expected to renew leasing contracts despite the scare caused by the Omicron variant in the early part of January 2022.

“Omicron has affected only office expansion timelines, but not the business confidence of IT-business process management firms and other companies in the country,” said LPC director for commercial leasing Mikko Barranda.

New contracts

ADVERTISEMENT

Barranda said some 224,000 square meters of office space deals were expected to be finalized in the first half of 2022.

“Office contractions remain at their lowest. We are seeing tenants renew leases in anticipation of recovery,” Barranda said.

The easing of quarantine restrictions and increased mobility also favor the gradual return of workers to offices.

Meanwhile, LPC said the work disruption in the Visayas left by Typhoon Odette in December 2021 emphasized the importance of fully-equipped workplaces.

“Massive power outages left scores of employees working from home unable to function. Thus, IT-BPMs and other firms in Cebu scrambled for the few fitted office spaces available to keep operating.

Although many firms will continue to adopt a hybrid set-up allowing some to work from home, majority still recognize that workplaces in business districts offer redundancy,” said Barranda.

About 540,000 square meters of office space were vacated in 2021, not only because of the pandemic but also because of the exodus of offshore gaming companies from the Philippines following China’s clampdown and imposition of higher taxes on the industry.

Of the 540,000 sq. m. of office space left empty that year, 51 percent or 277,000 sq. m. came from Philippine offshore gaming operators or POGOs.

The office sector rebounded since then, with total office demand hitting 540,000 sq. m in 2021.

Back to office

Colliers International said while the long-awaited back-to-office plans of many companies were delayed because of the Omicron variant, office landlords should find ways during this downtime to prepare their properties for the eventual and inevitable return to work and improve the marketability of their vacant spaces.

For instance, Colliers said office landlords should introduce new technologies to minimize the spread of viruses and other disease-causing microorganisms in the workplace. Among these are touch-less access in ingress/egress points, restrooms, elevators and common area, hands-free door unlock mechanisms, virtual guest passes and automatic door openers.

Innovations

Other technological innovations that landlords can implement, according to Colliers, are disinfection and sanitation equipment at the entry to the property; upgrading air-conditioning systems and introducing filtered fresh air into the building; treating surfaces with antiviral coating to prevent transmission from high-touch surfaces; and the use of negative air ionization systems to suppress airborne viruses and microbes.

Landlords should also consider assisting occupiers to implement adjustments on design and fit-outs to accommodate new social distancing norms and health features.

“The Omicron variant should not hinder the property market’s recovery and the much-anticipated rebound of the Philippines’ office market. While the country battles COVID-19 surge and new restrictions are imposed, landlords must now take action to prepare their properties for the eventual and inevitable return to work,” said Maricris Sarino-Joson, director of office services at Colliers.

Tags: Colliers International PhilippinesLeechiu Property Consultantsoffice spacepandemic
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

New PMA President pushes for Web 3.0 education, opening membership to Filipinos abroad

byManila Standard
January 30, 2023, 11:53 pm
0
8
New PMA President pushes for Web 3.0 education, opening membership to Filipinos abroad

Newly-elected Philippine Marketing Association (PMA) President Sy Bryan D. Lato will push for initiatives and collaborations that will increase Filipino...

Read more

BTI Payments expands access to financial services

byThe Standard
January 29, 2023, 3:16 pm
0
8

Financial services provider BTI Payments is setting its sights to serve a growing market of digital services. To date BTI...

Read more

Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

byManila Standard
January 28, 2023, 12:31 pm
0
8
Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

A delegation of 18 Philippine companies will showcase premium halal-certified food products through a country exhibit at the Gulf Food...

Read more

New Mitsubishi Xpander Cross
has crossed its way to PH shores

byManila Standard
January 27, 2023, 8:00 pm
0
8
Outdoor Expo North 2023 set this February

Mitsubishi Motors Philippines Corporation (MMPC) officially unveils the much-anticipated 23MY New Mitsubishi Xpander Cross. A modern 7- seater MPV Crossover...

Read more

All-new Honda AirBlade 160 is choice of professionals

byManila Standard
January 27, 2023, 7:55 pm
0
8
Outdoor Expo North 2023 set this February

Active youngsters know exactly what they want, including their preferences for a daily ride. And despite their precise demands, The...

Read more

Ford PH, ARB join forces to spice up next-gen Ford vehicles

byManila Standard
January 27, 2023, 7:50 pm
0
8
Outdoor Expo North 2023 set this February

Ford Philippines has joined forces with global off-road accessories provider ARB to give owners of the next-generation Ford Ranger and...

Read more

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • PBBM rolls out 5-year dev’t plan
  • Mr. Marcos says education system ‘failed’ the children
  • Fuel price hikes: Gas up P1.30/l, diesel by P1/l
  • Enrile slams ICC, suggests probers’ arrest for interfering
  • Power snaps may hit rural areas
  • PBBM vows ‘all possible aid’ to Ranara family
  • SC nullifies SEC memo on CPAs, external audits

Advertisement

Latest News

Power snaps may hit rural areas

byAlena Mae S. Flores
January 31, 2023, 12:50 am
0
8
Napocor seeks higher charges

State-run National Power Corp. warned on Monday about year-long daily power interruptions affecting 1.3 million households in remote islands and...

Read more

PBBM vows ‘all possible aid’ to Ranara family

byVince Lopezand1 others
January 31, 2023, 12:30 am
0
8
PBBM vows ‘all possible aid’ to Ranara family

President Ferdinand Marcos Jr. on Monday vowed to extend all possible assistance to the family of Jullebee Ranara, the 35-year-old...

Read more

SC nullifies SEC memo on CPAs, external audits

byRey E. Requejo
January 31, 2023, 12:20 am
0
8
Omicron now dominant virus variant in US

The Supreme Court has nullified for being unconstitutional the memorandum circulars issued by the Securities and Exchange Commission that required...

Read more

Now things get ‘egg-citing’

byManila Standard
January 31, 2023, 12:15 am
0
8
Now things get ‘egg-citing’

First, we got reports on the unrestrained smuggling of food products like sugar, rice, onions, fish and meat—but no one...

Read more

Victory for press freedom

byTony La Viña
January 31, 2023, 12:10 am
0
8
Denying Villafuerte justice

"May the free press win in all these cases" Rappler Holdings Corporation and its president Maria Ressa have been acquitted...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App