Metro Manila (CNN Philippines, January 12) — With the aftermath of Typhoon Odette and the lingering presence of the COVID-19 pandemic, Colliers reminds landlords and tenants alike to exercise flexibility to better respond to such challenges.
“Lessors need to be flexible with their offered commercial terms and lease durations, especially during these extraordinary times. Flexible workspace providers should gauge interest for fitted spaces in the market and create more plug-and-play facilities that capture the evolving needs of occupiers,” said Winston Luna, Colliers Senior Manager of Office Services – Cebu.
Focusing on information technology and business process management (IT-BPM) firms in Cebu province, Colliers noted that the industry has already been implementing a work-from-home setup for its about 200,000 employees prior to Odette. This proved challenging for firms, as the typhoon heavily affected many residential communities.
Luna stressed office landlords and seat-leasing providers “must be adaptable” in providing their tenants’ needs such as operational telco services, internet connectivity, and air-conditioning.
“Apart from high competition for fitted office spaces, there remain some challenges for certain occupiers whose ‘must-haves’, such as flexible lease terms, required area size/number of seats, and generator set capacity, are not yet being met,” said Kathlyn Atillo, Colliers Assistant Manager of Office Services – Cebu, as she reminded that these challenges have long been in place before Odette hit.
The property consulting firm likewise called on tenants to keep a “robust” business continuity plan (BCP) especially with the health crisis still in sight and natural calamities bound to happen in the future.
For instance, occupiers must also ensure additional office spaces for BCP sites that could accommodate employees in case of disruptions. Colliers also enjoins tenants to explore partnerships with flexible workspace providers for BCP packages.
“Moreover, occupiers can reassess the readiness of their current office buildings in terms of their response capabilities during emergencies and technical specifications and look for quality buildings that can continuously operate for several days on generator alone,” said Luna.
Considered among the most destructive typhoons in the country, Odette has left tens of billion pesos in damage to agriculture and infrastructure in Visayas and Mindanao as well as parts of Luzon.
