Philippines Office Figures Q3 2026

Q3 2026 QUARTERLY HIGHLIGHTS 

-    Demand in the Philippine office market slowed down further this quarter, recording 137,800 sq. m. in transactions, representing a drop of 14% q-o-q and 45% y-o-y.

-    Managed facility providers emerge as market’s biggest space takers this quarter capturing 19% of total demand and all fueled by 3PO demand.

-    Looking at yearly demand, the IT-BPM sector has not been the major driver since 2023. Share in overall demand has shrunk to its lowest in the last 5 years. 

-    Metro Manila vacancy edged up slightly to 19.3% this quarter and will likely hit 20.1% by year end, driven by sluggish demand and upcoming completions.