Metro Manila office space, mall vacancy rates widen

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......»»

Category: financeSource: thestandard thestandardOct 30th, 2020

Metro office space vacancy rising, rents falling - Manila Bulletin

Metro office space vacancy rising, rents falling Manila Bulletin.....»»

Category: newsSource:  manilanewsRelated NewsAug 10th, 2020

Metro Manila office supply rises; Taguig still has highest rent rates World

Metro Manila office supply rises; Taguig still has highest rent rates BusinessWorld Online By Vincent Mariel P. Galang Reporter. METRO MANILA'S supply of Prime and Grade A office space grew by ab.....»»

Category: newsSource:  manilanewsRelated NewsMay 7th, 2019

Metro Manila office supply rises; Taguig still has highest rent rates

METRO MANILA’S supply of Prime and Grade A office space grew by about 170,000 square meters (sq.m.) in the first quarter of the year, with more than half located in Makati City, commercial real estate services company Cushman & Wakefield Philippines said......»»

Category: newsSource:  bworldonlineRelated NewsMay 6th, 2019

Maynilad, MWC shelve rate adjustments for 2021

Maynilad Water Services, Inc. (Maynilad) and Manila Water Company, Inc. are forgoing some water rate increases they are qualified to implement in the coming year, including the next tranche of the rate rebasing adjustment as well as the mandated Consumer Price Index (CPI) adjustment.  This was announced separately by both companies on Tuesday. In a text message, Metropolitan Waterworks and Sewerage System (MWSS) Chief Regulator Patrick Ty said the MWSS-Regulatory Office (MWSS-RO) has been discussing this matter with both Maynilad and Manila Water since the start of this year. “We just received the proposals of the two Concessionaires and we are currently evaluating them,” Ty said.  In a statement, Maynilad said that with this deferral, the company “hopes to alleviate the day-to-day struggles of its customers as they and the whole country strive to recover from adversity and rise stronger than before, ready to start anew”. “During these difficult times when no one is spared the economic impact of the COVID-19 pandemic, Maynilad is one with the government in finding ways to help our countrymen make the situation more manageable,” it also said. Manila Water, on the other hand, said “in the spirit of Bayanihan and to alleviate the plight of our customers due to the pandemic, Manila Water will not be implementing the rate adjustment in 2021 under the approved 2018 Rate Rebasing.” Done every five years, rate rebasing is review of water utilities’ past performance and the projection on their future cash flows.  It is supposed to set the water rates at a level that would allow both Maynilad and Manila Water to recover their expenditures and earn a rate of return. For 2020, Maynilad and Manila Water also volunteered to defer the implementation of the next tranche of annual rate hike approved under the current rate rebasing period, which started in 2018.  Their decision came as both companies were being scrutinized by no less than President Rodrigo Duterte for their allegedly onerous contracts with MWSS. To be implemented in tranches from 2018 to 2022, the approved increase in Maynilad’s rates under the fifth rate rebasing period would be P5.73 per cubic meter (/cu. m.). For this year, it was supposed to increase its rates by P1.95/cu.m, then another P1.95/cu.m in 2021.    As for Manila Water, the increase in its rates under rate rebasing would play around P6.22 to P6.55/cu.m.  This year, it was supposed to increase its rates by P2/cu.m, and another P2/cu.m by 2021.  By 2022, depending on the medium-term water sources project that the company will be allowed to pursue, the Ayala-led firm could charge its customers an increase of P0.76/cu.m up to P1.04/cu.m. The CPI adjustment, on the other hand, is the annual inflation adjustment and takes place every January. Maynilad is the largest private water concessionaire in the Philippines in terms of customer base.  It is the agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province.  Meanwhile, Manila Water caters to the East Zone concession area covering the Cities of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig and Marikina. It is also in charge of the southeastern parts of Quezon City, and Sta. Ana and San Andres in Manila. In the Province of Rizal, MWCI services the City of Antipolo and Municipalities of San Mateo, Rodriguez, Cainta, Taytay, Teresa, Angono, Baras, Binangonan, and Jala-jala......»»

Category: newsSource: NewsNov 3rd, 2020

NCRPO, mall security officers nagpulong; mga alituntuning ipatutupad sa malls, alamin

Manila, Philippines – Nakipagpulong nitong Lunes, Mayo 11 ang National Capital Region Police Office (NCRPO) sa mga security officer ng mga mall sa Metro Manila para pag-usapan ang mga ipatutupad na security measures para sa pagpapatupad ng modified enhanced community quarantine ngayong Mayo 16. Ayon kay NCRPO chief, Maj. Gen. Debold Sinas ngayong Martes, Mayo […] The post NCRPO, mall security officers nagpulong; mga alituntuning ipatutupad sa malls, alamin appeared first on REMATE ONLINE......»»

Category: newsSource:  remateRelated NewsMay 12th, 2020

Lack of office supply driving POGOs outside MM — JLL

Strong office space take-up by Philippine offshore gaming operators or POGOs is seen to continue this year, as these firms are projected to expand outside Metro Manila due to tight supply, Jones Lang Lasalle Philippines said......»»

Category: financeSource:  philstarRelated NewsJan 24th, 2020

POGOs now occupy over a million square meters of office space in Metro Manila

"POGOs now occupy about 10% of total leasable office space in Metro Manila or 1.14 million sq metres (12.3 million sq feet).".....»»

Category: newsSource:  philstarRelated NewsNov 28th, 2019

NCR office vacancy rate dips in Q3

THE office vacancy rate in Metro Manila dropped to a “healthy” 5 percent in the third quarter from 6 percent in the second quarter on the back of strong demand,…READ.....»»

Category: newsSource:  manilatimes_netRelated NewsOct 16th, 2019

Despite ban on new ecozones, BPO take-up seen to drive office demand in Metro Manila

Business process outsourcing (BPO) office space take-up is expected to reach over 400,000 square meters (sqm) annually for this year and next despite a ban on new economic zones in Metro Manila, real estate consultancy Santos Knight Frank (SKF) said......»»

Category: newsSource:  philstarRelated NewsOct 4th, 2019

Pogo sector overtakes IT-BPO in office space use

The fast-growing Philippine offshore gaming operator (Pogo) industry has overtaken the information technology-business process outsourcing (IT-BPO) industry as the biggest market for new office space in Metro Manila and could contribute as much as $11.6 billion to the economy this year. This is according to David Leechiu, chief executive officer of Leechiu Property Consultants (LPC), […] The post Pogo sector overtakes IT-BPO in office space use appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsSep 17th, 2019

Peaceful Holidays ahead

For three years now, the Philippine National Police has reversed the “trend” of higher crime rates in Metro Manila once the Ber months strike. “It is now a myth,” said National Capital Region Police Office (NCRPO) chief P/Maj. Gen. Guillermo Eleazar. From 636 recorded crimes versus persons on September to December 2016, the number shrank […] The post Peaceful Holidays ahead appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsSep 1st, 2019

Multi-lingual BPO firm eyes expansion in Davao, Iloilo

MANILA, Philippines – Multi-lingual business process outsourcing (BPO) firm Open Access BPO has no qualms about expanding outside Metro Manila after acquiring enough space to add another 1,000 seats via a second Makati office. Company chief executive officer Benjamin Davidowitz told Rappler last Friday, July 12, that while ........»»

Category: newsSource:  rapplerRelated NewsJul 19th, 2019

POGOs, BPOs to fight for limited office space in Metro Manila

THE Philippine Offshore Gaming Operators (POGOs) industry is expected to unseat the Information Technology and Business Process Management (IT-BPM) sector as the top office space occupier in Metro Manila by the end of the year, according to Leechiu Property Consultants (LPC)......»»

Category: newsSource:  bworldonlineRelated NewsJul 11th, 2019

POGOs seen dominating Philippine office demand by year-end — Leechiu

Philippine Offshore Gaming Operators, or POGOS, are expected to be the largest consumer of office space in Metro Manila and overtake the IT-BPM industry in terms of office demand, global real estate services firm Leechiu Property Consultants reported Wednesday......»»

Category: newsSource:  philstarRelated NewsJul 10th, 2019

IBPAP pushes approval of pending ecozone applications in Metro Manila

The Information Technology and Business Process Association of the Philippines (IBPAP) is pushing for the proclamation of pending ecozone applications in Metro Manila with the Office of the President (OP), warning of as much as 50,000 foregone potential new jobs from a shortage in ecozone space for information technology and business process management (IT-BPM) firms amid a moratorium on processing of ecozone applications in the country’s capital......»»

Category: financeSource:  philstarRelated NewsJul 6th, 2019

Demand for office space seen growing 25% this year

MANILA, Philippines - Demand for office space in Metro Manila is expected to grow to 721,000 square meters by the end of the year or 25 percent more than the.....»»

Category: financeSource:  philstarRelated NewsOct 13th, 2016

Office space demand to stay strong – Cushman Wakefield

STRONG pre-leasing demand for Metro Manila office spaces will continue to absorb the supply being completed over the next few quarters, a real estate consultancy firm said in a report. Real estate consultancy and research firm Cushman and Wakefield expres.....»»

Category: newsSource:  manilatimes_netRelated NewsSep 2nd, 2016

Over 10,000 motorcycle taxi riders back on road Wednesday

Commuters returning home from office work in Metro Manila may book a ride through either Angkas or Joyride starting today after the government allowed the return of motorcycle taxis subject to health precautions......»»

Category: financeSource:  philstarRelated NewsNov 24th, 2020

NDRRMC says typhoon response adequate

The National Disaster Risk Reduction and Management Council said Thursday that it has not been negligent in issuing timely and adequate warnings and advisories related to the strength of typhoon “Ulysses” even if many residents in Metro Manila and nearby provinces seemed to be caught by surprise with the sudden flooding in their areas. (MANILA BULLETIN) Requests from people asking to be rescued from the roof or second floors of their houses, specifically in Marikina City, Pasig City, and Rizal, due to the overflow of the Marikina River have flooded social media and the NDRRMC Operations Center, according to Assistant Secretary Casiano Monilla, Office of Civil Defense deputy director for operations. “Patuloy ang paglilikas natin but since yesterday or even the other day, inililikas na ang ating mga kababayan especially doon sa traditionally naaapektuhan ng bagyo. We were not caught flat-footed dito sa event na ito. Kung minsan lang kasi, kapag nag-ikot ang local officials ay hindi kaagad sumusunod ang mga kababayan. Mas nagrerely tayo kung ano ang ating nararamdaman, kung ano ang prevailing na situation na nararamdaman other than the advise na binibigay ng PAGASA,” he said in a virtual media forum. (We are still conducting rescue operations but since [Wednesday] or even [Tuesday], we have already conducted pre-emptive evacuation of our countrymen especially in areas that are traditionally affected by typhoons. We were not caught flat-footed by this event. Sometimes, the residents don’t listen to local officials even if they are already warned. They usually rely on what they are feeling or the prevailing situation rather than the advise given by the Philippine Atmospheric, Geophysical, and Astronomical Services Administration)The NDRRMC has yet to provide data on the extent of damage of  Ulysses and how many people were affected. But NDRRMC chairman and Defense Secretary Delfin Lorenzana, in a separate interview, said the damage has been “huge.” “[There was] huge damage. [There were] totally flooded villages and low-lying areas were flooded,” Lorenzana said when asked to describe the extent of Ulysses’ effects. Lorenzana said he has briefed President Duterte about the deployment of troops to save some residents in Marikina who were asking to be rescued due to the overflow of the Marikina River. “I just came from the Palace. I briefed him what our troops are doing in Marikina to save people from their rooftops,” he said. Social media users were quick to point out the similarity in the devastation of Ulysses to typhoon “Ondoy” in 2009 which inundated a vast portion of Metro Manila after hours of intense rains. Ondoy left 747 people dead and billions of damages in agriculture and infrasture. In Marikina, Mayor Marcelino Teordoro said Ulysses brought the water level of Marikina River to 22 meters as of 11 a.m. Thursday, which was higher than the 21.5-meter level reached during typhoon Ondoy. Monilla said local government units (LGUs) have the responsibility to conduct search and rescue operations on their affected residents but he noted that the NDRRMC is behind the LGUs to augment their capabilities. “Ondoy really served as a lesson especially sa area ng Marikina at Pasig sa NCR. Nagkaroon na sila even the early warning signals. Sa amin naman, ang pagdirect ng operations ay aming nirerely sa LGUs at kami lang ay tumutulong sa local governments in harnessing the response units para madagdagan ang units na nagre-rescue sa ating mga kababayan (Ondoy really served as a lesson especially in Marikina and Pasig in the National Capital Region. They established early warning signals. On our part, the direction of [rescue] operations rely on the local government units and we just help them in harnessing the response units which will rescue our countrymen),” he said.  “Because highly populated ang lugar it could be a challenge relocating them. Ang Provident [Village] nga which serves as a lesson in Ondoy ay affected din sa ngayon. Highly urbanized kasi ang Metro Manila that’s why it’s really a challenge paano i-relocate ang mga tao na laging affected ng ganito,” he added. Meanwhile, the NDRRMC has also tapped the Armed Forces of the Philippines (AFP) and several private companies to deploy their manpower and assets for search and rescue operations. Gen. Gilbert Gapay, AFP chief, said the Joint Task Force NCR has been leading the rescue efforts in Metro Manila. They were aigmented by two disaster response units from the 7th Civil Relations Group, 101stSearch and Rescue volunteers, and private group REACT PH. Another search and rescue unit from Bantay Bayan volunteers were deployed in areas on Tullahan River and Caloocan City to conduct search and rescue operations. The Joint Task Force Bicolandia, Northern Luzon Command (NolCom), and Southern Luzon Command (SolCom) also deployed thousands of soldiers to coordinate the search and rescue operations in Bicol region, Cordillera Administrative Region, Ilocos (Region 1), Cagayan Valley (Region 2), Central Luzon (Region 3), Calabarzon (Region 4A), and Mimaropa (Region 4B). Monilla said they have received reports that major dams in Luzon have been releasing excess water which may inundate Central Luzon and parts of Metro Manila. “Ang Angat, Ipo, La Mesa, at Wawa dams nagpapakawala ng tubig dahil sa patuloy na pagtaas ng tubig dulot ng ulan na hatid ni Ulysses so baka abutin pa hanggang mamayang hapon o gabi (Angat, Ipo, La Mesa, and Wawa dams were releasing water because of the continuous rain brought about by Ulysses so the [flooding] may persist until afternoon or evening),” he said. .....»»

Category: newsSource: NewsNov 12th, 2020

NLEX vows to continue dialogues with Pampanga quarry truckers

CITY OF SAN FERNANDO, Pampanga (PNA) – The North Luzon Expressway (NLEX) Corporation is assuring the motoring public that concerns about legal load limits being raised by motorists and truckers are taken seriously by the management. The statement came after Pampanga quarry-based haulers barricaded several NLEX interchanges on Saturday morning in protest of the temporary rerouting of 12-wheeler dump trucks. The NLEX, in its statement, said it was compelled to temporarily regulate the entry of perennially overloaded 12-wheeler dump trucks for safety reasons while major rehabilitation of the five-kilometer Candaba Viaduct was ongoing. The reconstruction and rehabilitation of the 35-year-old Manila-bound carriageway of the Candaba Viaduct started last August. Before the project’s implementation, the tollway company said it reached out to the Department of Public Works and Highways (DPWH), Department of Transportation (DOTr), Toll Regulatory Board (TRB), Pampanga Governor Dennis Pineda’s office, and the mayors of San Fernando, San Simon, Apalit in Pampanga, Calumpit, Pulilan, Malolos, and Guiguinto in Bulacan, the affected trucking groups, and the Pampanga Chamber of Commerce to highlight the urgency of repairing the Candaba Viaduct to assure its long-term viability as a vital road link between North and Central Luzon and Metro Manila. The NLEX also said that it issued public advisories that the reconstruction will require the closure of certain lanes and the implementation of temporary counter-flow traffic measures. To assuage the concerns of the affected quarry-based truckers and haulers, the NLEX said dialogues are ongoing to demonstrate proper and compliant procedures for loading their trucks. The NLEX currently implements the load limits provisions of R.A. 8794 and the Joint DOTr-DPWH Implementing Rules and Regulations revised in 2012 which sets the maximum load limits for trucks nationwide. .....»»

Category: newsSource: NewsNov 8th, 2020