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Metro Manila's office sector records early gains in 2025

Manila Bulletin

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June 8, 2025

Colliers PH's data shows recovery while new supply of office space remains limited

- CARLA MORTEL BARICAUA

Metro Manila's office sector records early gains in 2025

The latest Colliers Philippines' office market report indicated that Metro Manila's office sector posted an early recovery in the first quarter of 2025, with transaction volumes improving from last year's subdued performance.

While the net take-up was positive, this set the pace of vacated space that slowed during the first three months of the year.

Colliers Philippines Director and Head Kevin Jara said, "We also recorded the first major pre-leasing activity since 2022, which also contributed to the positive net take-up. While overall vacancy across Metro Manila remains high, improvements were observed in primary business districts—most notably in Makati—where vacancy rates continued to decline. Meanwhile, demand for office space in provincial locations remained stable and on track with initial projections, underscoring a broadly resilient market."

Metro Manila's vacancy rates improved with a net take-up of 77,000 sqm, or a 19.7 percent recovery, reflecting a positive turn gained in the first quarter of the year. According to Colliers, this rebound is being driven by renewed demand from the third party outsourcing (3PO) sector and traditional occupiers, with expansion activity accounting for over half of all transactions.

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