PNB Holdings Corp. (PHC), the real estate arm of the Philippine National Bank (PNB), is preparing to redevelop the Key.fiTo align CE properties with changing tenant requirements, a companyFIshial said.
“PHC's long-term vision includes enhancing our existing portfolio of prime properties, and we are preparing to soon redevelop one of our most ready-to-use properties in Makati,” said the PHC Chief Executive Officer.fiCER Joselito R. Kansunji said in an e-mail response to questions.
He said the company will convert its 13-storey PNB Makati Center along Ayala Avenue into a mixed-use development for office, retail and wellness tenants.
“Our properties already have strong potential, and we are looking at ways to unlock even greater value through high-end, mixed-use developments that reflect the evolving needs of tenants and communities,” he said.
PHC owns three prime properties – two in Makati City and one in Pasay City – and maintains a 90% occupancy rate in its office, retail and event spaces, with tenants from the information technology-business process management, healthcare and retail sectors.
Following the expansion of Homegrown, a new health and wellness brand is also set to open at PNB Makati Center fiTeens brand benefit, Mr. Kansunji said.
In Pasay City, the PHC plans to usefiCE Building along Diosdado Macapagal Boulevard as a cultural performance venue for the presentation of locally manufactured products.
“This initiative highlights the growing role of our Bay Area assets as a platform for cultural and commercial engagement,” Mr. Consunji said, noting that tenant interest remains strong in both Makati’s Central Business District (CBD) and the Bay Area.
He said both locations continue to attract businesses despite the departure of Philippine Offshore Gaming Operators (POGOs).
“While the broader Metro ManilafiAs the CE market has felt the impact of the POGO exodus, the Makati City CBD and the Bay Area of Pasay City remain highly attractive to businesses looking for strategic locations,” he said.
“These sectors are supported by industries such as IT and business process management, which is beneficialfiThis is largely linked to proximity to transport links, talent hubs and essential infrastructure.”
Data from real estate services fiRM CBRE shows the current situation in the Bay Area and Makati CityfiBy the second quarter, supplies were 417,600 sq m and 362,900 sq m respectively.
Mr Consunji said PHC expects to maintain stable rental income and high occupancy through the end of the year, supported by the accessibility and attractiveness of its properties in Makati and Pasay. , Beatriz Marie D. Cruz
