Global commercial real estate markets are entering a period of recovery and rebalancing, backed by steady capital flows and new opportunities driven by changing work habits and global supply chain adjustments, according to insights shared by Colliers executives at the recent 56th WTCA Global Business Forum in Philadelphia.
Juan Jose Gallardo, executive vice president at Colliers, explained that markets are moving through a natural cycle of adjustment after years of disruption from the pandemic, geopolitical changes, and economic uncertainty. He noted that office markets are stabilizing as companies prioritize high-quality spaces that support collaboration, talent development and company culture. While there is a growing preference for modern, well-equipped buildings, older properties are being renovated, repurposed or replaced rather than left unused.
“Office demand is not disappearing – it is simply evolving,” Gallardo said. Changes in how people work and how businesses operate are reshaping how space is used, rather than eliminating the need for commercial premises entirely.
At the same time, shifts in global trade are creating new demand for industrial and logistics facilities. Trends such as nearshoring and friendshoring are leading companies to build more resilient supply chains, boosting requirements for warehouses, manufacturing hubs and supporting infrastructure. This trend is also visible across Southeast Asia, including the Philippines, where demand from BPO firms, logistics operators and export industries continues to support the real estate sector, even as buyers and tenants become more selective.
John Randall, national production manager for Colliers Debt & Structured Finance, added that capital remains accessible for well-positioned projects despite higher interest rates and market uncertainty. Lenders including banks, insurance firms and institutional investors continue to provide funding, as they seek stable returns. Randall also highlighted that the current market adjustment differs from the Global Financial Crisis, as pressures today come from asset repricing rather than widespread systemic risk.
Overall, the sector is adapting to new economic conditions rather than declining. The combination of available capital, changing workplace strategies and the restructuring of global trade networks is creating new prospects for investment and growth in markets worldwide.
