The Cushman and Wakefield report said IndiaвЂ™s domestic demand-driven economy is expected to outpace ChinaвЂ™s Gross Domestic Product growth. The firm likewise reported that growth in entire Asia would pick up this year, driven by the firmer growth of Japan, to be reinvigorated by policy developments. вЂњNonetheless, we expect strong take-up levels to sustain high office occupancies and record rents, and continued increases in capital values this year.вЂќД¬ushman and Wakefield also noted that the Philippines, along with Vietnam, would likely have solid economic growth among emerging countries in Southeast Asia. вЂњWe may see slower rental growth this year given the massive upcoming supply totaling 10.2 million square feet that is concentrated in ManilaвЂ™s new prime district, Bonifacio Global City,вЂќ it said. The property advisor cited estimates by the IT and Business Process Association of the Philippines (IBPAP) that the BPO industry would have 1.3 million full-time employees in 2016.ДЄt the same time, it said accelerated implementation of public-private partnership projects and spending related to the May 2016 presidential election would induce growth in the countryвЂ™s economy.ДЄs for the countryвЂ™s property market, Cushman and Wakefield noted record low levels of office space vacancies, which remained at 3.4 percent as of yearend 2015.Д«ut the company foresees a slower rental growth this year due to upcoming supply of new developments, especially in the emerging Bonifacio Global City, where the bulk of the new office space supply will be placed. вЂњThe government continues to make strides in improving business conditions and addressing corruption,вЂќ Cushman and Wakefield expects the business process outsourcing (BPO) sector to continue propelling the Philippine economy to stay as one of AsiaвЂ™s strongest performers. вЂњThe Philippines is on track to record another year of enviable growth,вЂќ the property consultancy firm said in its Asia Pacific Outlook Report for 2016. GLOBAL property advisor Cushman and Wakefield has described Manila as вЂњstill in the fast lane,вЂќ on the back of low inflation and what it calls sustained policy accommodation.

Fastlane ppp