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Philippine Offshore Gaming Operators have started to wind down operations with 53,000 square meters of office space left by the sector in the third quarter, according to Leechiu Property Consultants .According to LPC commercial leasing director Mikko Barranda, the sector has already been vacating space in the past four years and now only takes up 500,000 sq.m. versus the peak of 1.7 million sq.m. in 2019.
Majority or some 70% of the remaining POGOs in the country are mainly located in the Bay Area in Pasay City, while the remaining 30% are scattered across Metro Manila.Barranda said the industry has only contributed 8% of year-to-date leasing activity, and has not been a major contributor to demand since 2020, after accounting for 45% of total demand prior to the COVID-19 pandemic.
Pogo Ban Office Space Leechiu Property Consultants Real Estate Money
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