All of a sudden, flexible working spaces are all around. Everywhere a business looks, especially in the Philippines, there are spaces being converted into offices for lease. In the Philippines, there are three major classifications of flexible workspaces: serviced offices, hosted service firms, and coworking spaces. These office spaces are commonly equipped with fully-equipped workstations, internet connections, and other amenities needed for offices to move into their new office space in an instant.
The demand for such office setting has kept on increasing over time, and it is thanks to Millenials. Regus Philippines Country Manager Lars Wittig said the increase in demand and coworking property development business was due to the preference of Millennials in working at flexible work hours.
“It was the employees themselves, especially Millennials, that insisted on flexible working, the ability to work whenever they like,” Wittig told ANC.
Another reason for the increase is the wants of multinational corporations to work in this kind of setting and also small businesses like startups, freelancers, and law firms, according to Property research firm Colliers International Philippines.
“We encourage developers to construct office space that could accommodate non-outsourcing and traditional businesses that require smaller cuts. Developers should be more flexible and keep in mind that the expansion of the Cebu economy drives the growth of traditional firms such as those involved in engineering and logistics that occupy smaller space,” said the research firm.
As flexible work spaces grow in the archipelago’s capital, Manila, Bondoc said they saw also saw potential in other places in the country in regards to flexible workspace demands, namely Cebu, Bacolod, Iloilo, and Davao.
“We see growth in this segment. In fact, investors from Singapore and Malaysia are now eyeing to expand in Manila. Cebu, for sure, will benefit from this trend, knowing that Cebu is a strong hub for business process management and information technology,” he said.
Moreover, the impact of the tax reform in the archipelago has increased the number of flexible workspace leases in the archipelago.
“With the implementation of Tax Reform for Acceleration and Inclusion (Train) Law, we see a rise in small office cut leases as small businesses open up shops,” said Joey Roi Bondoc, research manager at Colliers Philippines.
He also said that the tax reform has made tax filing and payment processes simpler. Besides the Train Law, Bondoc also mentioned the implementation Go Negosyo Act and the National Broadband Deal responsible for driving growth of micro, small and medium enterprises (MSMEs).
As the flexible office space scene continues to grow in the country, more and more businesses who invested in the country due to the tax reform and Go Negosyo Act and the National Broadband Deal will continue to expand of influence other businesses to do the same. Actually serviced office leasing philippines is not that hard, especially since there are various strategic locations available, and Ezy Outsourcing Hub can help in providing office spaces equipped with the necessary tools to start the day. To get started to view our offices, call 02-6571872 / +61 419 200 663 or email contact@ezyoutsourcinghub.com.
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