As of 2023, the state of the global commercial market has continued to recover from the COVID-19 pandemic. Businesses are beginning to operate at 100% capacity, especially as government guidelines on health and security are beginning to relax across many nations.
In the Philippines, the return of the office sector is looking to expand in 2023, with Cushman & Wakefield estimating a 50% increase in office space demand in Metro Manila alone. This would follow the positive trend of leasing volume in the city from the past two years, where JLL reports that 2022 saw 669,000 sqm of office spaces leased—67% higher than the 401,000 sqm total of 2021.
PropertyAccess has available office properties for rent for companies looking to return to on-site work arrangements. Common office space sizes range from 120 sqm to 600 sqm. Bigger office spaces are also available starting from 1,500 sqm.
Metro Manila also sees the increase in the need for office spaces for the information technology-business process management (IT-BPM) sector, with local and global businesses entering the Philippine market. The demand is met with an average forecasted supply of 191,000 sqm of new office spaces within the next five years (though this is lower than the 709,000-sqm average of pre-pandemic years).
This opportunity presents businesses to return to on-site work or consider a flexible working arrangement for their employees. Investing in a physical office provides opportunities for workers to collaborate physically in real-time and allow managers and leads to monitor their teams more efficiently.
To help further your decision on the topic, here are the top five benefits of having a physical office for work:
Work-Life Balance
Separating work from personal life can be difficult in work-from-home arrangements, especially if the living spaces are to be shared with other people. Though it lessens the need to commute for some people, other problems such as connectivity, accessibility, and communication may be barriers to productivity that can bleed into the personal life of a professional working remotely.
A benefit of working in an office is that it is the ideal space for focusing on the day-to-day business without the distractions of other factors. It allows one to isolate work tasks from personal tasks and experience the ideal environment for work.
Professional Development
Education continues well after school as people look to educate themselves through experiences in the workplace. Professional development is best practiced in the office, where one can work with teammates, leaders, and other employees to experience a range of new situations together and spearhead growth quickly. Being in the office offers different exercises, programs, and training—all are relevant to increasing one's skills and preparing for future career opportunities.
Convenience
Investing in a designated company office creates a centralized area for employees to collaborate as teams. The office is the most convenient place for employees to hold project meetings and events, even with a work-from-home or flexible set-up. A physical space allows for physical interactions, as workers can feel palpable energy, read body language, and digest conversations in a more efficient way.
t can also be the address for shipments and deliveries and is a secure location for monitoring the inventory of relevant items for the company's use.
Credibility and Professionalism
In order to attract future partners and collaborators, a firm must present itself as trustworthy and tangible. Offering an office address for these people to visit for meetings and other official businesses assures the person that there is a professional environment where employees conduct their day-to-day work.
The office also allows the business to appear well-established and permanent in the eyes of an employee, partner, client, and customer. Its design, function, and culture are critical in curating a brand identity that appeals to its target market.
Networking Opportunities
Having a physical office address is its own benefit; however, situating it in a city's primary business sector can offer opportunities for networking and collaboration with other companies in the area. In this sector, employees will likewise have high access to commercial facilities such as banking institutions, government offices, and telecommunication offices. These establishments are vital to the productivity of a workplace. Having them close by saves time and effort and can centralize business transactions.
Looking for an Office Space? Here are some listings for you
This spacious, 2-storey property for sale is newly renovated with a big attic space. It is equipped with 2 toilets and 2 parking spaces for employees or potential visiting clients to your future HQ. With a lot area of 88sqm and floor area of 200sqm, this is ideal for small businesses, convenience store franchisers, and showroom owners. This is located at United Nations Avenue, Manila, Metro Manila.
Commercial Space, Central Luzon
Not ready to commit for a big purchase? You can rent this 3-storey building for only Php150,000! The floor space for the first floor is 54sqm while the second and third floors are at 62 sqm. This space is equipped with not 2 but 6 toilets and a daily kitchen. Other facilities include parking spaces for your employees or potential client guests. This property is located at Pampanga.
Take your place in the heart of Makati City, the country's financial district with this clean and modern space. It is located at the 3rd floor of Universal Motors Corporation Building with 117sqm floor area. This large room can be divided into two spaces to cater to your office needs. It is equipped with inverter air conditioners is able to connect to any internet provider.
Return to normalcy and invest in an office space.
With the commercial sector gaining traction from the public and companies resuming operations to 100%, there is an opportunity to grow and collaborate internally in ways that differ from working remotely. Having an address for businesses allows one establishes one's firm and foster the environment needed to create success.