OVERVIEW
The PEZA Metro Manila moratorium has significantly influenced office development and investment in the Philippines. This Savills Philippines report examines how a Green Building Accreditation Framework could support the responsible lifting of the moratorium, encourage sustainable office developments, attract investment, and strengthen the country's competitiveness.
KEY FINDINGS
- PEZA’s Metro Manila moratorium limits new ecozone office supply
- Many office buildings exist, but not all are usable for PEZA-registered tenants
- Demand is increasingly focused on PEZA- and green-certified buildings
KEY INSIGHTS
- The issue is not total office space, but lack of compliant space
- This creates a split market:
- PEZA/green-compliant buildings = high demand
- Non-compliant buildings = weaker demand
- Sustainability and certification are becoming essential, not optional
MARKET IMPLICATIONS
- “Effective vacancy” is lower than headline vacancy for PEZA tenants
- PEZA/green buildings will command stronger leasing performance
- Non-compliant offices risk higher vacancies and incentives
- Developers will prioritize compliance (PEZA + green certification) in new projects
FAQ
What is the PEZA Metro Manila moratorium?
It is a policy that restricts the declaration of new PEZA economic zones in Metro Manila to encourage investment in other regions.
Why is this report important?
It explores how a Green Building Accreditation Framework could support sustainable development while improving investment opportunities and office market competitiveness.
Who should read this report?
Property developers, investors, occupiers, policymakers, and anyone interested in the Philippine commercial real estate market.
