Metro Cebu office space market draws interest from Manila occupiers

CCTO: Cebu City hosts the majority of office space supply in Metro Cebu mainly because of Cebu IT Park and Cebu Business Park according to consultancy services firm JLL. (CDN File Photo)

By: Rosalie O. Abatayo - CDN Digital
Published: September 24,2020 - 12:11 PM
Full Article: Metro Cebu office space market draws interest from Manila occupiers
Snippets: CEBU CITY, Philippines — Interests for office spaces in Metro Cebu have notably increased in the third quarter of 2020, despite the challenges faced by the real property sector amid the pandemic.

This development was noted by top professional services firm Jones Lang LaSalle (JLL) in its market overview for the period.

According to JLL Philippines, Metro Cebu’s shares of the total office space inquiries in the third quarter climbed to 28.6 percent from previously at only 4 percent. These inquiries come from occupiers from Metro Manila and some local-based businesses.

Those interested in the Metro Cebu office space market are mainly from firms engaged in offshoring and outsourcing (O&O) at 95.2 percent while the remaining 4.8 percent are inquiries from traditional office occupiers.

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