Online gaming is enjoying rapid market growth in the Philippines. In today’s age of selfies, this computerization of play comes as no surprise. With the popularity of online gaming comes an influx of companies keen on expanding in the Philippines.
Online Gaming has taken Metro Manila by storm and quickly overtook the BPO industry as the biggest taker of office spaces. While BPO demand for office spaces experienced a sudden slowdown in 2017, online gaming companies were quick to pick this up as key takers have acquired more than 220,000 square meters of office space around Metro Manila.
With over 50 licenses released by PAGCOR just last year, this industry has contributed to a boom in the Bay Area and it does not show signs of stopping anytime soon. Current demand is centralized within Entertainment City mainly because of its close vicinity to Ninoy Aquino International Airport. General space requirements for online gaming offices are at least 5,000 square meters however, take-up of entire buildings by a single tenant is also possible. With more online gaming companies applying for licenses, the continued expansion of the industry in the country will most probably continue to drive demand for office spaces.
In 2017, rental rates experienced a high of PHP900 per square meter as the demand surged. Prices are seen to continually increase even more as office buildings react to the expected take-up in office space. This trend in the rise of online gaming in the country and its subsequent effect in driving demand for office spaces seems to be where work meets play for this rapidly growing sector.
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