METRO Manila's office market experienced a remarkable resurgence in 2024, with overall net absorption reaching an impressive 282,600 square meters, a 290 percent increase from the previous year. This growth was largely driven by significant leasing activities in Bonifacio Global City (BGC) and the Bay Area, signaling a robust recovery in these key districts.

Government agencies emerged as the second-largest demand driver for office spaces, particularly in the Bay Area. The completion of 448,000 square meters of office space in 2024 further bolstered the market, although an additional 200,000 square meters of planned space faced delays and are now expected to be completed in 2025.