PNB Holdings bets on IT-BPM, lifestyle retailers
The real estate spinoff firm of Philippine National Bank (PNB) is pinning its hopes on the rapidly growing IT and business process management sector (IT-BPM) as well as lifestyle-oriented brands. This, in hopes of maintaining high occupancy in its properties and differentiating itself from its competitors.
Joselito Consunji, COO of PNB Holdings Corp. (PHC), told the Inquirer in an email interview that their properties currently maintained an occupancy rate of almost 90 percent. These are both at PNB Financial Center in Pasay City and PNB Makati Center.
This is above the 82-percent average real estate brokers have recorded in Metro Manila as of the third quarter.
In achieving above-industry occupancy, Consunji said they stayed “focused on what our tenants truly need: ready, adaptable spaces in prime, accessible locations.”
“Our properties are not only well-maintained and highly functional, but also situated in desirable business addresses that are ideal for companies that want to stand out,” the COO said.
As the real estate industry becomes more competitive and saturated, PHC is hoping to stand out to IT-BPM and lifestyle brands.
The former is seen as the current demand driver. IT-BPM firms account for 45 percent of total take-ups in the first nine months of the year, data from Leechiu Property Consultants show.
According to Consunji, companies in this sector continue to expand and “seek quality office spaces in strategic locations.”
At the same time, established lifestyle brands and enterprises are seen to support PHC’s vision of creating mixed-use communities.
