Construction & Real Estate
From The Report: Philippines 2021
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While Covid-19 has thrown the Philippines’ economy into flux, early indications suggest that construction and real estate is one of the most resilient sectors and could provide a platform for national recovery. However, with construction projects delayed by lockdowns during the second quarter of 2020, and demand for office space and high-end residential developments weakened by mobility restrictions, the sector still faces headwinds. At the same time, the disruption of the pandemic is giving rise to new opportunities. For instance, with the pandemic inducing a significant shift towards working from home as companies adhere to social-distancing measures, co-working spaces are emerging as a solution for firms seeking to decentralise while ensuring a sound operating environment for employees. Agile real estate developers have the chance to establish a first-mover advantage and capitalise on emerging opportunities as tenants and buyers seek projects that meet the demands of the new normal. This chapter contains an interview with Jose E B Antonio, Executive Chairman, Century Properties Group.