THE number of office spaces that will be built in the Philippines will go down in the next three to five years, mainly due to higher building and construction costs and decreasing demand for office spaces.

Just like most of the Philippines’ economic sectors severely affected by the pandemic

Just like most of the Philippines’ economic sectors severely affected by the pandemic

LRG expects that office demand will primarily come from the BPO Industry.

he real estate industry is in a recession, not because of market forces that usually create the real estate cycle of recession, recovery, expansion and hyper-supply

In its latest study, the Lobien Realty Group (LRG) cited the following reasons for the growth of the office sector:

Metro Manila’s office market is poised to a strong recovery starting in the fourth quarter of 2022, according to property consultancy Lobien Real Group (LRG).

THE office market in Metro Manila is on track for a robust recovery starting in the fourth quarter of 2022, according to real estate consultancy firm Lobien Realty Group (LRG).

Property consultancy  Lobien Realty Group (LRG) said about 400,000 square meters (sq.m.) of office space in Metro Manila will be occupied by information technology-business process

Based on data culled from the first half of 2022, vacancy rate in office space for Metro Manila stands at 19% with the remaining 81% leased.