PROPERTY CONSULTANT Colliers Philippines expects increased demand for healthy and sustainable office spaces in Metro Manila starting 2025.
The capital region had about 2.6 million square meters of vacant office space at the end of the third quarter, and Colliers expects to be filled in five years, it said in a statement on Sunday. It also expects Metro Manila’s office vacancy to hit a record-high of 20.5% this year.
“Despite this, green, healthy and sustainable office space will likely dominate new office supply in Metro Manila from 2025 to 2027,” Colliers Director for Research Joey Roi Bondoc said in the statement.
In the next few years, most office buildings would offer lower density ratios, curtain wall systems with thermal insulations, touchless access in elevators, vertical gardens, UV disinfection lifts, and filtered air circulation systems, Colliers said.
With the growing trend for “green” and sustainable offices, developers must explore ways to differentiate themselves in the market, the property consultant said.
“Aside from providing safe and healthy office spaces, landlords should also help tenants entice more employees to report on-site by highlighting their buildings’ amenities and other value-added features,” Colliers said.
Landlords should also offer spaces that promote employees’ health and well-being to encourage on-site work, it added.
From 2025 to 2027, Colliers expects about 61% of new office supply to have green certifications.
Most of the green and sustainable buildings likely to be completed during the period will come from Makati Fringe, Ortigas Fringe, and Quezon City, it said. These include Innoland Altaire, Araneta Cyberpark Tower 3, SM North EDSA Towers 4 and 5, GBF Center Tower 2, and The Yuchengco Center.
In the first nine months of the year, about 45% of transactions were in green-certified buildings, according to Colliers data.
“Colliers believes that the future of office buildings leans towards developing spaces which are safer, healthier and are less harmful to the environment,” Mr. Bondoc said. — Beatriz Marie D. Cruz
