International property services firm Pronove Tai paints a rosy picture for the Philippine office spaces on the back of vibrant online gambling business in the country.

BusinessWorld reported that the demand for office space has surged after the Philippine Amusement and Gaming Corporation (PAGCOR) move to issue licenses for Philippine Offshore Gambling Operators, making the Philippines the first and only country in Asia to do so.

Pronove said in its report that these companies accounted for 20% or 56,000 square meters (sq.m.) of the pre-leased office space set to be completed in the second quarter of 2017.

“With the advent of offshore gaming, all countries generally allow their citizens to engage in betting and gaming activities online in the privacy of their homes. The Philippines, however, has taken the bold lead in legalizing and licensing offshore online gaming in the country,” the property consultant said.