Property News · October 28, 2020

Manila’s residential towers slowly emptying out amid an exodus of online casinos from the Philippine capital


An exodus of online casinos from Manila is slowly emptying the Philippine capital’s residential towers, pulling rents lower, according to property broker KMC Savills. Next year could be worse, it said.“We’ve seen entire residential towers emptied out,” Michael McCullough, managing director at KMC in Manila said on Tuesday. While vacancies from online casinos are so far just a “rounding error” in a multimillion square metre home market, “we’ll continue to see a lot more of that continuing to…

Source : South China Morning Post
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