Office Reits in the Philippines get a boost as spotty Internet limits work-from-home

POORER Internet infrastructure in the Philippines is proving to be a boon for office landlords in the archipelago.

While managers of some real estate investment trusts (Reits) with office assets are fretting over low physical occupancy rates due to work-from-home trends, market watchers say employees in the Philippines are returning to the office at a healthy rate.

“Amid negative news flow surrounding remote work and the POGO (Philippine offshore gaming operators) sector, actual impact to office occupancy and rental rates has been minimal,” said Maybank analyst Miguel Sevidal.