The Philippine Offshore Gaming Operator (POGO) sector, once the darling of the office market, faced a steep decline. However, recent movements in the Bay Area suggest a potential, albeit quieter, comeback.
Leasing Activity
Real estate brokers confirm receiving inquiries for large floor plates from offshore gaming entities. While not at the frenzy levels of 2018-2019, the demand is significant enough to move the needle on vacancy rates in Pasay and Parañaque.
Regulatory Landscape
The government remains cautious. New regulations aimed at taxing the sector more effectively and ensuring strict compliance are in place. This "cleaner" version of the industry might be more sustainable in the long run, but it also means growth will be more measured.
