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Manila Bulletin devider Philippines devider Visayas devider Iloilo tops Cebu in office leasing, real estate services firm says

Iloilo tops Cebu in office leasing, real estate services firm says

Published May 6, 2026 01:26 pm
OFFICE buildings at Iloilo Business Park. (Tara Yap)
OFFICE buildings at Iloilo Business Park. (Tara Yap)
ILOILO CITY – Real estate services company Colliers International said Iloilo has outpaced Cebu in office leasing in the first quarter of this year.
“Outpacing Cebu meant that outside of Metro Manila, Iloilo recorded the highest number of office transactions for the first quarter of 2026,” said Joey Roi Bondoc, director of research of Colliers.
“This is may be a supply-driven increase in transactions. When new office buildings are completed in one area, it typically attracts new tenants,” Bondoc said during a May 5 property briefing in Iloilo City.
Bondoc cited the Iloilo Business Park of Megaworld Corp. which accounts for almost 50 percent of the market share in Iloilo office spaces.
The 72-hectare township has 13 office developments at the old airport site in Iloilo City. It has around 205,000-square meters for leasing and mainly has business process outsourcing (BPO) companies as tenants.
Among the office buildings are Enterprise One and Enterprise Two, Iloilo’s first gold-certified buildings under the Leadership in Energy and Environmental Design (LEED) global ratings.
Iloilo Business Park office spaces generate jobs for nearly 100,000 people – 20,000 direct from BPO and other companies and estimated 80,000 indirect in retail, services, and transportation.
The Bangko Sentral ng Pilipinas (BSP) is constructing its new regional office inside the township. Megaworld is developing the 19-story International Corporate Plaza.
Bondoc said it is too early to tell if Iloilo will further outpace Metro Cebu in office spaces.

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Iloilo Cebu Office spaces Colliers International
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