Current vs. pipeline The Philippine office market, currently ranked third globally in terms of occupancy, owes much of its success to the country’s talented workforce and cost-effective business environment. However, another key factor driving foreign companies to choose the Philippines is the availability of world-class real estate.
Leading developers in the Philippines have sought the expertise of renowned international architectural firms to design iconic office spaces. This strategic move has successfully attracted top global companies to the country. Gensler, the world’s largest architecture firm, is just one example.
The firm has designed several highly successful projects in the Philippines, including the World Plaza, The Finance Center, and Ore Central. These buildings have consistently boasted high occupancy rates even during the challenging times of the pandemic. Moreover, these office spaces have become home to multinational giants such as ING, Shell, and CIMB, further solidifying the Philippines’ reputation as a prime destination for foreign businesses.
The retail sector is also undergoing significant transformation. SM Megamall, one of the world’s largest malls, is being redeveloped with the help of Benoy, a global architecture firm known for its work in Singapore. The new design will incorporate natural light, nature-inspired elements, higher ceilings, and wider hallways, creating a more modern aesthetic.
In Makati, Ayala Land is redeveloping Greenbelt 1.
