Philippines

Industrial warehouses near Metro Manila continue to see strong occupancy.

Supply increased from approximately 9.8m sqm in 2015 to 15.9m sqm by 2025.

Maintaining high occupancy levels will be challenging.

The supply influx is expected to impact rents.

As tenants prioritise quality, the market will strongly favor newer, high-quality buildings.

The total stock is currently at 5.3m sqm.

But vacancy increased to 44%.

An estimated 177,000sqm of new supply is expected in H2 2025.

This could temporarily apply pressure on occupancy rates.

There is 159,000sqm of supply pipeline this year.

Analysts expect occupancy challenges to arise.

These will be mainly located in Makati and the Bay Area.

Blame it on the slower pace of new openings.

Primehomes Capitol Hills exemplifies eco-conscious urban living through green open spaces, smart home technology, and a masterplanned community.

It won the Masterplan Development of the Year - Philippines and the Residential Development of the Year - Philippines categories in the awards programme.

Over 130,000sqm of new industrial space was completed during the quarter.