SunStar Cebu’s office logs 12.8% vacancy, highest since 2007
DELAY. The coronavirus pandemic has slowed down the construction of office buildings in Cebu. Colliers International Philippines says completion of some buildings will be delayed in the first half of 2021 to 2022. (SunStar file)
+ December 14, 2020 NO NEW buildings were completed in the first nine months of 2020 in Metro Cebu, indicating the impact of the Covid-19 pandemic on office construction.
Property research firm Colliers International Philippines, in its latest market study, revealed that only about 37,300 square meters (sq.m) of new office space in Metro Cebu will likely be completed in the fourth quarter this year. Completion of some office buildings will likely be delayed to the first half of 2021 to 2022.
State of real estate: Primer for 2021
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Healthy workspace in the heart of Ortigas
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