PHL flexible office market to further expand

The flexible office space market in the Philippines is expected to further grow, driven by the evolving workplace dynamics and the popularity of hybrid work, according to a report by real estate services firm KMC Savills.

- By CATHERINE TALAVERA

"The demand for flexible office spaces in the Philippines continues to grow as occupiers adapt to evolving workplace dynamics, with companies seeking adaptable work environments that can accommodate fluctuating team sizes and hybrid work arrangements," KMC Savills said in its Philippine Flexible Office Report.

It added that in response to rising vacancy rates in the traditional office sector, a growing number of office developers are partnering with flexible workspace operators to diversify portfolios and offer more adaptive, demand-driven workplace solutions.

"Developers are exploring partnerships with flexible space operators as potential anchor tenants, recognizing their added value as workplace amenities. These operators offer convenient solutions such as meeting rooms, additional seating, and, in some cases, work passports that provide access to multiple locations," KMC Savills said.

Looking ahead, the real estate services firm emphasized that operators are expected to broaden their footprint to meet the growing demand for flexible, experience-driven workspaces fueled by the popularity of hybrid work," the real estate services firm said.