Biz Buzz: Pogos are staying put
Philippine offshore gaming operators (Pogos)—or, at least, their offices—seem unfazed by all the commotion going on in Congress.
Leechiu Property Consultants Inc. found in its latest property market report that these large office occupiers are actually staying.
In the first half of the year, there were no contractions, or office lease terminations, coming from Pogos, which accounted for 10.9 percent of the total 685,000-square-meter office leasing demand.
In fact, Leechiu attributed the 42-percent drop in total office lease terminations to the “absence of contractions caused by the Pogo industry.”
So while the Pogos involved in the case of embattled—and suspended—Bamban Mayor Alice Guo seem shaken, others may not be.
Looking at the industry as a whole, many of Pogos “have already left and left behind offices and residential apartments,” according to Leechiu commercial leasing director Mikko Barranda.
“There are still a number [of Pogos] that are here, and we have witnessed a few of them that are expanding,” he said during a press briefing on Thursday.
“Clearly, at least in the last few years, and even for this quarter, we didn’t see any terminations happen from their end,” Barranda added.
So are they here to stay? More importantly, why are they staying? Abangan! —Meg J. Adonis
Lounging at Naia
Harried airline passengers waiting for their connecting flight may now relax inside the new transit lounge at Ninoy Aquino International Airport (Naia) Terminal 1.
The Manila International Airport Authority (MIAA) and Philippine Airlines (PAL) joined forces to put up the facility, which was launched earlier this week.
MIAA is the lounge operator while PAL provided the seats, shower facilities and amenities such as charging stations.
Travelers transiting through Naia terminal 1 to connect to another flight may use the transit lounge that is open to passengers of all carriers, not just PAL.
“We trust that travelers will find the facility a welcome respite while enroute to their final destinations,” MIAA general manager Eric Ines said.
“This transit lounge ensures the comfort and convenience of passengers traveling through the Manila gateway,” PAL president and chief operating officer Stanley Ng added. —Tyrone Jasper C. Piad
Bye-bye Shell stations?
Motorists who have gotten used to filling up their gas tanks at the Shell Magallanes and McKinley stations may soon have to go somewhere else.
For Magallanes, word is that the property owner now wants to build something else and take advantage of its prime location. Indeed, why make do with a gasoline station when you can develop a high-rise property on the same piece of valuable real estate?
That seems to be the same thinking behind the possible shuttering of the prized McKinley corner Edsa station.
A sign there says the station would be permanently closed by the end of the month as the lease had not been renewed by property giant Ayala Land Inc.
Closure, however, remains just a distinct possibility and not yet a done deal as last ditch negotiations for a possible renewal are ongoing.
Time will tell soon enough if the Shell stations will stay, or will just have to go.
And if they will go, will other Shell stations follow? —Tina Arceo-Dumlao
