Our March 2022 edition of the report provides the latest updates in the Philippine commercial real estate industry as well as insights on the local sectors.
- While the return to office is a desirable scenario that will not only hasten the office sub-sector recovery but also stimulate activities in the rest of the country’s real estate sub-sectors, particularly in retail and residential subsectors, it is also evident that the work-from-home scenario has gained a significant footing that may upend its full implementation. With many companies and employees seen thriving in the current setup, it is necessary to develop optimal policy responses on implementing agile working practices that will balance the country's competitiveness and economic benefits.
- Retail vacancies are seen to taper off in the mid-term as the signs of economic resurgence become more blatant to encourage increased consumer spending and the entry of new locators as well as store expansions. Also, the new supply of retail space is seen to continuously lag as compared to other more resilient subsectors such as office, residential, and industrial.