Colliers cuts 2015 office space forecast

NOTING delays in the completion of development projects in the third quarter, real estate consultancy firm Colliers International said the supply of office space in the country this year might be less than it earlier forecast.

However, Julius Guevara, Colliers’ director for research and advisory services said the consultancy group still expects an all-time high 503,000 square meters of new office space by the end of 2015.