Collectively, REITs have raised P60 to P65 billion, Colliers Managing Director Richard Raymundo told reporters."That is a lot of capital that has been sourced from the market. I think most of the REITS that have been listed have held their values," Raymundo said.
Meanwhile, office space vacancies have hit 1.78 million square meters in Metro Manila or equivalent to 60 office buildings, Colliers data showed. Companies have shifted to a hybrid set-up, where some work from home and some on-site, during the COVID-19 pandemic. Demand for condominiums are expected to recover as workers go back to offices and as the economy reopens further, Colliers said.
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