By James A. Loyola
Aseana City, a mixed-used development in the Manila Bay area, is seen to benefit from the growth in the offshore gaming industry which will in turn boost demand for new office space.
According to a report by real estate consultancy firm Colliers International Philippines, offshore gaming operators has offset the decline in demand for office space from business process outsourcing companies last year.
“(In 2017), it is estimated that roughly 35 percent of 870,000 sq m in office space transactions in Metro Manila were from offshore gaming…, a large increase from the mere 80,000 sq m in 2016,” it said.
There are 51 offshore gaming operators currently in the Philippines. Most are located in the Manila Bay area, typically occupying office spaces ranging from 10,000 square meters up to 30,000 sqm.
Offshore gaming companies are expected to take up new office spaces at Aseana in the coming months.