By Othel V.
Campos | Jul. 02, 2015 at 11:01pm [ manilastandardtoday.com ]
Real estate
and investment management house Jones Lang Lasalle said companies are expected
to absorb a million square meters of office space this year, or nearly double
last year’s 513,800 sqm.
Jones Lang
Lasalle director Philip Anonuevo said in the first half of the year alone,
companies led by business process outsourcing firms absorbed 506,674 sqm of
office space.
“It is highly
possible that figures will double this year. A lot of space has been taken up
by the BPOs. They remain the single biggest occupant of commercial spaces,”
Anonuevo said.
Total supply
of new office space is estimated to reach 745,380 sqm in 2015 on of maturing
lease contracts that will add to current inventory.
The BPO
sector is expected to take up 63 percent of the demand in 2015, as full time
employees in the sector is expected to expand to 1.3 million by 2016 from the
expected 1.1 million in 2015.
“Translated,
this will require another 900,000 square meters of office requirement in 2016.
This year, BPO gets 500,000 square meters of available space,” said Anonuevo.
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