Makati captures bulk of early 2026 office take-up

MAKATI accounted for most office leasing transactions in the first five months of 2026, while Bonifacio Global City (BGC) in Taguig remained the preferred location for business process outsourcing (BPO) firms, according to Leechiu Property Consultants, Inc. (LPC).

Office take-up in Makati and BGC reached 154,000 square meters (sq.m.) from January to May, with Makati accounting for 102,000 sq.m., or 66% of the total, LPC said in a report.

“Take-up stayed healthy at 154,000 sq.m. Makati won the deals on achievable rents, while BPO firms still drive the demand pipeline, and most of them want BGC,” LPC Director for Commercial Leasing Miguel Manipol said in a post on the firm’s website on Wednesday last week.

LPC said Makati accounted for most of the leasing activity due to cheaper rents, with managed facilities, government offices, and corporate headquarters driving demand.

Of the 102,000 sq.m. taken up in Makati during the period, traditional offices accounted for 91,000 sq.m., while the information technology and business process management (IT-BPM) sector took up the remaining 11,000 sq.m.

BGC recorded 52,000 sq.m. in office take-up during the same period, with IT-BPM firms accounting for 15% of the total.

Although Makati captured more completed transactions in the first five months of the year, BGC remained the preferred location for firms seeking office space, LPC said.

Live office demand across the two districts stood at 137,000 sq.m., with BGC accounting for 112,000 sq.m., or 82% of active demand, and Makati accounting for the remaining 25,000 sq.m.

The IT-BPM sector remained the key demand driver, accounting for 104,000 sq.m., or 76% of total live demand in the two areas. Of this, 97,000 sq.m. of IT-BPM requirements were directed toward BGC.

“The strength of IT-BPM live demand highlights the sector’s resilience despite hybrid work arrangements and broader economic challenges,” Mr. Manipol said. — Juliana Chloe A. Gonzales