GROWTH in office space demand will likely be subdued next year, led by the business process outsourcing (BPO) and e-commerce sectors, a representative from commercial real estate services company Jones Lang LaSalle (JLL) said.
ROBINSONS HOTELS and Resorts (RHR) is turning some of its hotel rooms into private office spaces and offering long-stay services in several Go Hotels, as it addresses changing consumer demand amid the pandemic.
DEMAND for office space grew 34% during the lockdown as the information technology and business process management (IT-BPM) industry continued to expand, going against expectations as many businesses suspended operations during the period.
DEMAND for office space in the Philippines is expected to start recovering by the second quarter of the year, and transactions are projected to reach 800,000 to 1 million square meters (sq. m.) by the end of 2020.