Here’s a rundown of retail occupancy rates in Metro Manila in H2 2024

Guess which two cities had the highest occupancy rates.

According to a Savills report, the retail sector in Metro Manila has continued to display resilience, with varying occupancy rates across different submarkets.

These occupancy rates are indicative of the demand and supply dynamics in each area and provide valuable insights into the health of the retail market.

Here’s more from Savills:

BGC and Quezon City lead the market with high occupancy rates of 98% and 97%, respectively. These areas benefit from strong demand, premium locations, and a diverse consumer base, with BGC offering a more high-end, office-driven market and Quezon City attracting a mix of middle- to upper-income consumers.

Alabang, C5 Corridor, and Greenhills submarkets exhibit slightly lower occupancy rates, indicating both challenges and growth potential. Alabang and the C5 Corridor are benefitting from significant infrastructure projects, which are expected to drive retail demand in the coming years. Meanwhile, Greenhills is undergoing a major transformation.

The recent opening of GH Mall in 2023 has introduced a new retail space to the market, but the mall is still in the process of being fully occupied. Currently, its occupancy rate lags behind other submarkets, but it is expected to see a substantial increase in foot traffic and occupancy soon. This growth will largely be driven by pre-leased tenants, who are anticipated to attract more shoppers and contribute to a higher occupancy rate in the years ahead.