New office space supply to keep vacancy levels healthy

Despite the strong demand office space in Metro Manila, newly completed developments coming online this year will keep the vacancy levels at a healthy rate above 5 percent, a real estate consultancy said.

The vacancy rates in the Metro Manila office market would rise to healthier levels this year, as a large chunk of supply enters the market, said Monique Cornelio-Pronove, CEO of Pronove Tai International Property Consultants, said in a media briefing late Wednesday.