‘POGOs to keep growing in 2020’
Credit to Author: Lisbet K. Esmael| Date: Fri, 01 Nov 2019 16:15:21 +0000
The Philippine offshore gaming operators (POGO) sector will continue to expand next year on the back of the country’s continued resilience, according to a property executive.
In the recent “The Final Pitch: Real Estate and Livable Cities” press conference in Makati City, Prime Philippines founder and Chief Executive Officer Jet Yu brushed off uncertainties facing the sector amid Beijing’s recent call to ban online gambling in the country.
There was no sign of slowing down as the Philippines “remains resilient,” he said, adding that his company forecast the sector to “continue to expand in Metro Manila” in 2020.
According to him, POGOs already outpaced the business process outsourcing (BPO) sector in terms of office take-up.
Leechiu Property Consultants Inc. (LPC) said in September that POGOs had taken up 386,000 square meters (sqm) of office space in the first nine months of the year, compared with BPOs’ 355,000 sqm.
In Metro Manila alone, POGO takeup already surged by 109 percent to 375,000 sqm from a the year-earlier figure, it added.