BGC in Taguig overtakes Makati CBD as top spot for prime office space

Bonifacio Global City (BGC) in Taguig is now the country’s top site for new prime offices in Metro Manila, with a total stock of current office space reaching 1.13 million square meters. Makati’s total stock reached a little over 1 million square meters, with no new office space to come online in Makati CBD until next year. BGC’s development is expected to reach 843,416 square meters from now through 2019 while Makati only has 74,556 square meters, with the pipeline for the next 12 months limited to Insular Life Makati Building. Experts expect rental growth in Makati to further increase since additional office-space stock will remain limited in the next couple of years.