Professional Documents
Culture Documents
3Q10
BEAT ON THE STREET
ECONOMY
As foreseen by most experts, 2010 is now proving to be a better year. The “The next quarter will be crucial for
real GDP during the second quarter registered an impressive 7.9% growth Companies looking to take on new space and
rate from the first quarter’s 7.3%. The IMF declared a GDP growth forecast consider relocating to more favorable
of 7% for 2010. This figure exceeds the government’s forecast of 5% to 6% premises at current bottomed rates. Lease
for 2010 (the government’s forecast for 2011 is 7% to 8%). Inflation rate on rates will start moving upwards as developers
the other hand stood at 3.5% this September (the lowest in ten months) do not have additional supply for 2011.” -
which might be an indication for the Bangko Sentral ng Pilipinas (BSP) to Josemari Cuervo, President & CEO; Cuervo
keep its rates at its current levels. Fiscal policy is still perceived to be Far East in association with Cushman &
Wakefield.
crucial to balance sustaining the fragile recovery pace and keeping in
check the budget deficit. Despite the recent strength of the Peso with its
ECONOMIC INDICATORS
sharp moves against the dollar, representing its strongest in two years, the
BSP indicated no plans of putting up capital controls or policy interventions 2009 2010F 2011F
claiming that inflows are still manageable. OFW Remittances are expected
GDP Growth 1.13% 5-6% 7-8%
to grow by 8% in 2010. Investors in the stock market are also advised
caution despite the recent significant gains of the bourse since some CPI Growth 3.4% 3-5% 3.5-5.5%
experts perceive the market to be in an “irrational – exuberance phase.”
BPOs on the other hand remained a driving force in the economy, in fact Unemployment 7.5% 7.5% 7.3%
according to the Contact Center Association of the Philippines, the BPO Employment 92.5% 92.5% 92.7%
industry would grow by 23% in terms of revenue in 2010 alone. Growth
*Php/psm/mth
Exchange Rate:
US$ = Php43.4299
EUR = Php60.7072
Source: CFEI
MARKET HIGHLIGHTS
SIGNIFICANT 3Q10 NEW LEASE TRANSACTIONS
BUILDING SUBM ARKET TENANT SQUARE M ETERS BLDG CLASS
N/ A
SIGNIFICANT 3Q10 CONSTRUCTION COMPLETIONS
BUILDING SUBM ARKET M AJOR TENANT SQUARE M ETERS COM PLETION DATE
FOR INDUSTRY-LEADING INTELLIGENCE TO SUPPORT YOUR REAL ESTATE AND BUSINESS DECISIONS, GO TO CUSHMAN & WAKEFIELD’S KNOWLEDGE CENTER AT: www.cushmanwakefield.com/knowledge
*Market terms & definitions based on BOMA and NAIOP standards.
This report contains information available to the public and has been relied upon by Cushman & Wakefield on the basis that it is accurate and complete.
Cushman & Wakefield accepts no responsibility if this should prove not to be the case. No warranty or representation, express or implied, is made to the
accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions,
withdrawal without notice, and to any special listing conditions imposed by our principals. Cushman & Wakefield of California, Inc.
©2010 Cushman & Wakefield, Inc. All rights reserved. 601 South Figueroa Street, 47th Floor
Lic. # 00616335
Please consider your environmental responsibility before printing this report. Los Angeles, California 90017
(213) 955-5100
2