Real estate management firm CBRE Philippines Inc. said that demand in office space from POGOs experienced a huge drop with a measly demand share of 3 percent in the last quarter of 2022, a far cry from the 38 percent of the same quarter in 2019.
REAL estate management firm CB Richard Ellis Philippines Inc. said that demand in office space from Philippine offshore gaming operators experienced a huge drop with a measly demand share of 3 percent in the last quarter of 2022, a far cry from the 38 percent of the same quarter in 2019.
David said the decline started to appear at the onset of the pandemic in 2020 caused by the “huge” flight of POGOs from the Philippines due to labor issues and travel restrictions amid the Covid-19 outbreak. POGOs and their exit from the Philippines became center stage especially as lawmakers like Senator Ana Theresia “Risa” N. Hontiveros-Baraquel called for their closure.POGOs became the center of numerous investigations for involvement in various crimes, a statement from the Senator’s office read.
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