Daikin Philippines outlines sales outlook following POGO exit
- brg_news_room
- Feb 2
- 1 min read
Philippines: Daikin Airconditioning Philippines Inc. stated that it is targeting sales growth of between 15 percent and 20 percent by 2027, following challenges experienced in the previous year linked to the ban on Philippine Offshore Gaming Operators. Under Executive Order 74, offshore gaming operators were required to cease operations by 31 December 2024. According to data from Colliers Philippines, the office vacancy rate in Metro Manila stood at 19.8 percent for two consecutive years following the ban.
Colliers Philippines projected that the vacancy rate would decline slightly to 19.5 percent in 2026, indicating that the main impact of the offshore gaming exit may have passed. The consultancy also noted that demand for condominium properties, particularly in central business districts, is expected to increase and continue through 2027. Daikin Philippines reported observing fewer office vacancies, including government offices occupying space previously used by offshore gaming operators. The company stated that it expects a significant share of its future sales to be generated from high-end residential developments.
Source: Business World
