CEBU will see an increase of flexible office supply, with the rising demand for “outgoing” working environment.
Kling Lacson, occupier services director for Cebu at property consultant Santos Knight Frank, said more than half of the space occupied by flexible offices are located in Cebu IT Park, home to most of the city’s call center companies.
“This dynamic and outgoing culture is seen to continue growing because of improved connectivity and lifestyle changes not only in the Cebu IT Park but in other areas as well. This in turn is seen to push the growth of the co-working space market in Cebu,” he told SunStar Cebu.
Flexible offices currently comprise about three percent of the office supply spread across the Cebu IT Park, Cebu Business Park and selected buildings in the fringes, according to a latest study by the real estate agency.
“More than half of the space occupied by flexible offices are located in Cebu IT Park, which, in a way, can be attributed to the more dynamic and outgoing culture prevailing in the area,” Lacson said.
He noted the evolving changes in the requirements of office space occupiers are prompting developers in general to adopt new concepts in their construction of new office buildings.
“Developers are now becoming more conscious about sustainability, wellness, curating experiences and providing state-of-the art amenities that create a better environment for the office space occupiers,” he explained.
Even occupiers of the older buildings are “re-fitting” their spaces to achieve these features, he added.
“Employee retention has been a growing concern of most office occupiers as the supply of highly skilled and qualified employees is becoming tighter,” Lacson said.
As all employers know, the employees are one of the key factors in growing and sustaining the business.
“Having these features incorporated in the new and older buildings is one way of enhancing employee retention,” he said.