Outlook 2023 Philippines

MANILA

NEW SUPPLY

NEW SUPPLY (SQM)

700,000

 A total of 337,000 sqm is expected in Q4 2022, though some of this may not reach completion until 2023.  Some developers have updated the expected completion dates for office projects launched prior to the pandemic, while some others have postponed projects indefinitely.

FORECAST

600,000

500,000

400,000

300,000

200,000

100,000

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield