Mandaluyong: Beyond the core, opportunity galore
Outside Metro Manila’s central business districts (CBDs), property developers are constantly searching for the next viable growth area for office and residential projects.
This is understandable, given the scarcity of developable land and rising land values in the capital region’s more established business hubs.
At Colliers Philippines, we always highlight that in office and residential leasing, major business districts such as the Makati CBD, Fort Bonifacio, and Ortigas Center continue to attract high-profile tenants, affluent homebuyers, and renters. As a result, office buildings and residential towers in these CBDs command premium prices and rents.
However, other occupiers and residential investors continue to gravitate toward areas outside these CBDs due to lower prices and rents. Some investors also bank on these locations for their potential price appreciation.
At the edge of key CBDs
A number of property firms strategically develop projects “at the edge” of multiple commercial districts, positioning them as connectivity-focused developments. This allows developers to maximize the benefits of proximity to several business hubs.
It is also highly advantageous to residents, who can access a wide range of retail, hospitality, office, and residential offerings, while benefiting from the improving infrastructure network surrounding these districts.
Mandaluyong City is one location that continues to solidify its position as a strategic business and residential hub in Metro Manila, supported by improving infrastructure, expanding office inventory, and sustained residential demand.
Recent and upcoming transport projects are further enhancing accessibility and boosting property values across the city.
One such project is the Estrella–Pantaleon Bridge. Completed in July 2021, it has significantly eased congestion along Edsa by providing an alternative route between Makati and Mandaluyong. Similarly, the BGC–Ortigas Link Bridge, completed in October 2021, has reduced travel time between Ortigas and Bonifacio Global City to about 12 minutes.
These developments collectively improve mobility for both businesses and residents, reinforcing Mandaluyong’s accessibility
advantage. This is a key feature of Mandaluyong compared to other peripheral business sites.
Moving forward, large-scale infrastructure projects such as the Metro Manila Subway and MRT-4 are expected to further transform the city’s connectivity. These projects are anticipated to drive long-term appreciation in land and property values while enhancing the city’s attractiveness.
Colliers Philippines believes that once completed, these projects should help Mandaluyong attract more businesses and drive demand for offices, hotels, malls, schools, hospitals, and other support facilities.
Attractive office leasing option
For the office sector, Mandaluyong currently has about 664,000 sqm of stock.
Total available office space stands at 142,000 sqm, with roughly 80 percent registered with the Philippine Economic Zone Authority (Peza), indicating the city’s continued appeal to outsourcing and export-oriented firms.
Rental rates in Mandaluyong remain competitive compared with major CBDs. Asking rents range from P600 to P850 per sqm, significantly lower than those in Makati CBD and BGC, making Mandaluyong an attractive alternative for cost-conscious tenants.
Transaction activity has also improved, with 9,000 sqm recorded in Q1 2026, up from 5,000 sqm a year earlier, signaling early signs of demand recovery.
Attractive residential hub
Mandaluyong’s residential sector complements its office growth, offering a diverse mix of mid-range to upscale developments.
As of end-Q1 2026, Mandaluyong’s condominium stock reached 44,400 units, accounting for 8 percent of Metro Manila’s total supply.
From 2026 to 2030, we expect the delivery of about 15,000 new condominium units in Mandaluyong. Pre-selling projects are priced from P2.3 million to about P35.2 million per unit, with an average take-up of nearly 80 percent as of Q1 2026.
Positive outlook
Overall, Mandaluyong’s real estate outlook remains positive.
Enhanced connectivity, competitive office leasing conditions, and resilient residential demand position the city as a compelling alternative to traditional CBDs. As infrastructure projects progress and new developments come online, Mandaluyong is likely to further strengthen its role as a central, accessible, and cost-efficient urban node within Metro Manila.
