Latest News for: Offshore vacancy


Metro Manila office vacancy matches level during ‘09 global financial crisis

Manila Standard Today 27 Oct 2021
Some major markets are even demonstrating over 25 percent vacancies already as offshore gaming companies continued to return large amounts of office spaces ... Data showed that the unoccupied spaces in developments completed within the first quarter to third quarter this year in Metro Manila accounted for 22 percent of the total vacancies.

IT-BPM lead office space demand

The Manila Times 21 Oct 2021
Vacancy rate in Metro Manila is presently at 17 percent ... Ortigas, Quezon City and the Bay Area, meanwhile, continued to see an increase in vacancy as it remained impacted by the exit of Philippine Offshore Gaming Operators (POGOs).

Manila’s new tax on gaming operators could drive office vacancy rates to near two-decade high

South China Morning Post 12 Oct 2021
A new tax on local and foreign online gaming operators and their employees in the Philippines is ...

Career plans launched for marine and offshore engineering

Straits Times 05 Oct 2021
Two Career Development Plans were launched yesterday to attract local talent to the marine and offshore engineering industry ... They are critical in almost every aspect of marine and offshore projects." ... The Career Development Plans will be adopted by four firms for a start - Dyna-Mac Engineering, Keppel Offshore & Marine, PaxOcean and Sembcorp Marine.

FLI banking on BPO sector’s resiliency

The Philippine Star 10 Jun 2021
Filinvest Land Inc. is banking on the resiliency of the business process outsourcing sector, which is filling up the vacancies left by Philippine offshore gaming operators or POGOs ... .

Rentals fall as office, mall, condo vacancy rates grow

Manila Standard Today 30 Apr 2021
JLL head of research and consultancy Janlo de los Reyes said office vacancy also hit 14.7 percent in the first quarter, with largest move-outs from Philippine offshore gaming operators and outsourcing and offshoring companies ... The surge in vacancies is seen to sustain the downward trend in rents.

AREIT sees resilient office segment

The Manila Times 23 Apr 2021
Mills added that only less than 2 percent of their portfolio’s office leases is expiring this year, which makes them “not directly exposed to market vacancy and possible rental adjustments at this time.” ... It also has no Philippine offshore gaming operator tenants, which is currently driving vacancy in the country’s office market, according to Mills.

Real estate vacancy rate seen widening as more POGOs exit

Manila Standard Today 09 Feb 2021
Colliers Philippines said office vacancy would reach 12.5 percent this year as more Philippine offshore gaming operators moved out and business process outsourcing companies rationalized their office space requirements ... The group said it was expecting residential vacancy to accelerate to 16.9 percent this year from 15.6 percent in 2020.

PH office space sales fell 70% in 2020 — Leechiu

Manila Standard Today 07 Jan 2021
Office vacancy in 2021 would start from the spill-over of spaces vacated by Philippine offshore gaming operators in 2020 estimated at 300,000 sq. m ... He said this is because offshore affiliates of US companies were expected to drive cost-cutting measures in most markets and this is seen to have positive impact on the Philippines and India. .

Metro Manila office space, mall vacancy rates widen

Manila Standard Today 29 Oct 2020
Property consultancy firm Colliers International Philippines said Thursday office space and mall vacancies in Metro Manila are widening and rental rates are falling after the global health crisis led to the closure of several Philippine offshore gaming operators and retail stores.

Colliers says office vacancy in NCR continues to worsen

Sun Star 29 Oct 2020
It attributed the worsening office vacancy to Philippine offshore gaming operators (Pogo) and outsourcing companies shutting down or rationalizing their office footprint in line with the remote working arrangements being implemented to contain the coronavirus disease 2019 (Covid-19) pandemic.

Cebu top choice as more firms eye satellite offices outside Manila

Sun Star 22 Sep 2020
He said these are mainly offshoring and outsourcing players seeking office space outside Metro Manila ... This sharp rise, according to delos Reyes, was due to the preterminations by Philippine offshore gaming operators, especially in the cities of Lapu-Lapu and Mandaue whose vacancies increased substantially in the third quarter of this year.

Agropreneurship is not for the half-hearted

Malaysian National News Agency 01 Jul 2020
No pain, no gain ... “I came from a farming family and it has always been my ambition to become an agropreneur, but I don’t have the time before because I was busy with my career which required me to work offshore. “Alhamdulillah, last year I found out that TKPM Peradong has vacancies and was looking for new agropreneurs ... ....

Cutter Diligence to leave Wilmington this month

News & Record 13 May 2020
WILMINGTON — The U.S ... Earlier this year, the USCG revealed the driving force behind the move is the shift to its new 360-foot Offshore Patrol Cutter, which cannot be maintained by the existing facilities in Wilmington. The vacancy left by the Diligence will open up an opportunity for the city, which is working with the Coast Guard and local Rep ... .

Three mayoral candidates square off at debate in New London

The Day 11 Oct 2019
From storefront vacancies and blight to offshore wind and garbage disposal, three candidates for mayor shared ideas and traded jabs on Thursday for a crowd that at times found it tough to contain... .

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