Cebu City garnered tremendous interests from offshore gaming sites, which is the sector that is driving the leasing operations within the city. But another location near Cebu City is also getting attention from the same sector — Mandaue.
Joey Roi Bondoc, senior research manager at Colliers International Philippines, explained that Mandaue city offers two factors that are exactly what offshore gaming firms are looking for. He explained this is all thanks to Mandaue City’s distance to the international airport and its growing condominium developments, the city placed itself in the spotlight for offshore gaming opportunities.
“Our office still receives queries from offshore gaming firms planning to locate in Mactan Island. But after Mactan, Mandaue comes second,” Bondoc said in an interview via SunStar.
Currently, Mandaue City is still a place surrounded by banks, manpower agencies, and insurance firms. Despite the existence of a high number of non-business process management firms, there is already an offshore gaming firm in Mandaue, which occupies almost 5,000 square meters (sq.m.).
According to Bondoc, Mandaue City is experiencing an increase in offshore gaming opportunities, which is also positively affecting Cebu City’s office and residential sector. In regards to the increase in activities of the residential sector, employees of these offshore gaming companies will need a place to stay due to the nature of the work. The work life of these employees, according to SunStar, is like a call center operation; hence, employees will need a residential property near the workplace.
“In Manila, offshore gambling is driving the leasing activity of properties, which also have condominium components. And with the continued rise, we expect the same trend to replicate here,” said Bondoc via SunStar. “Offshore gambling is emerging as a major plank of the Cebu office market,” he added, provided that Cebu implements a more conducive local regulatory environment.
According to the Philippine Amusement and Gaming Corporation (PAGCOR), it expects the Philippine Offshore Gaming Operators (POGOs) to bring in additional income for the country. Last year, PAGCOR revealed a whopping P7.365 billion (US$139.3 million) revenue was brought in by its POGO scheme, which is two times more than in 2017.
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