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Philippine Property Market News (September 2020)

Claro Cordero Jr. • 01/10/2020
In this September 2020 report, we take a look at the latest updates from the office, retail, hospitality and logistics sectors in the Philippines. 

 

  • The unexpected growth of the Philippine offshore gaming operator (POGO) industry fueled majority of the demand for office space prior to the COVID-19 pandemic. As the pandemic puts POGO in peril that is expected to substantially cut the demand for office space, Cushman & Wakefield believes that finding sustainability in IT-BPM industry is key in counterweighing the anticipated slump in the office market.
  • One notable characteristic of the Philippines' retail segment is the dominance of international brands. While other markets are reeling from the effects of retail apocalypse, foreign brands continue to thrive in the Philippine market prior to the COVID-19 pandemic. The market fundamentals that drive the retail segment and the deep-rooted Philippine mall culture will continue to attract international brands during the recovery stage.
 

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

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