PNB Holdings Corp. (PHC), the real estate arm of Philippine National Bank (PNB), said it plans to add more retail space at PNB Makati Center to support the demand from corporate, wellness and lifestyle tenants.
In a statement on Tuesday, the company said it is converting a portion of the ground floor of the PNB Makati Center along Ayala Avenue to accommodate food and beverage (F&B) and retail concepts.
“With a strong tenant pipeline anchored by wellness providers, service-oriented businesses and upcoming dining concepts, PHC expects continued demand for retail spaces into 2026,” the company said in a statement Tuesday.
The company said the move comes as Ayala Avenue, located in the heart of the Makati Central Business District (CBD), evolves into a more lifestyle-driven and experience-oriented hub.
It added, “As the Makati CBD continues to modernize, PHC is committed to developing future-ready spaces that support the progressive transformation of the district and enhance the overall tenant experience.”
The latest data from real estate services firm CBRE Philippines showed that in Makati City, about 36% or 136,028 square meters (sq m) of office supply is 10 years old and older, while 32% or 117,869 sq m. aged six to 10 years, while 32% or 119,598 sq. Is less than five years old.
PNB Makati Center has maintained a 94% occupancy rate, PHC said.
The entry of new tenants such as homegrown fitness brand Befit and Maxicare Healthcare Corp is in line with the growing demand for health-oriented amenities in modern workplaces, the company said.
PHC also owns two other prime properties – the PNB Financial Center in Pasay City and a high-value commercial lot along Buendia Avenue corner Paseo de Roxas. — Beatriz Marie D. Cruz