MANILA – Leasing inquiries from Chinese firms seeking to outsource operations remain “strong,” a property analyst said Monday, as government increasingly scrutinizes the influx of Chinese workers in the Philippines.
Leasing transactions in 2018 grew 40 percent from the previous year, with 125,000 square meters in “transacted” space, said JLL head of research and consultancy Janlo de los Reyes.
“We haven’t seen any large transactions yet,” de los Reyes said, referring to 2019. “What we’ve seen is still strong activity from leasing inquiries from these online gaming operators.”
Under draft rules, Filipinos can soon “object” to the hiring of a foreign worker for work that can be done by a local, Labor secretary Silvestre Bello III said Friday. The Senate also investigated the expatriate wave.
Chinese firms that snapped up property in 2018 are “rationalizing” their holdings and looking to areas outside Metro Manila such as Cavite and other Southern Luzon areas to cut costs, de los Reyes said.
Developers are also addressing concerns over the influx of Chinese workers, including designating specific areas of their developments to expatriate workers, he said. (ABS-CBN News)
