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Philippine Property Market News (July 2020)

Claro Cordero Jr. • 03/08/2020
In this July 2020 report, we take a look at the latest updates from the office, retail, hospitality and logistics sectors in the Philippines. 

 

  • The Information Technology and Business Process Association of the Philippines (IBPAP) expects sluggish BPO segment in 2020 with roughly 18% of the polled 70 members see a contraction in revenues and 36% see flat business activities. The adverse impacts of the pandemic are largely felt by smaller businesses since their ability to cover the cost incurred from losing a contract is less likely as compared to bigger companies. 
  • The Department of Trade and Industry (DTI) noted that foot traffic in shopping malls remain low at below 50% of the pre-pandemic levels, as consumers remain cautious of their spending while many have shifted to online shopping. Notably, around 25% of the 2,135 surveyed companies in June have temporarily or permanently ceased operations. 

 

The above is an excerpt of the July 2020 report. To read the full report, click on the Download button on the right.

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