The exodus of Philippine Offshore Gaming Operators (POGOs) from Metro Manila’s office spaces is accelerating, leaving traditional and outsourcing firms to shoulder the burden of expansion.
With private sector construction struggling and POGOs facing a potential full ban, can the Philippine economy maintain its resilience and hit growth targets in 2025?
President Marcos’ order to phase out the China-focused Philippine Offshore Gaming Operators had an immediate impact on the country’s office sector, with about 50,000 square meters of leasing deals ending in the third quarter of 2024.
A government phase out order on China-focused POGOs has caused collateral damage to gambling stocks such as DigiPlus Interactive, even though it is not part of the ban.