# Manila Class A Office Market

> Manila Class A office rents around ₱1,500/sqm/mo · ≈ $28.4 PSF/yr USD, with 22.6% vacancy and 5 months of typical rent-free on a 3-year term.

**Canonical URL:** https://classa.info/cities/manila
**Page type:** city
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- World's deepest English-language BPO talent base.
- Trophy product in BGC trades at PHP 1,500-1,900/sqm/month.
- POGO tenant exits drove vacancy up post-2022.
- PEZA tax-incentive regime structurally underwrites BPO tenancy.

## Key facts
- **city**: Manila
- **country**: Philippines
- **region**: APAC
- **classARentLocal**: ₱1,500/sqm/mo · ≈ $28.4 PSF/yr USD
- **classARentUsd**: $28.428357751372644/sqft/yr
- **vacancyPct**: 22.6%
- **typicalLeaseYears**: 3
- **typicalRentFreeMonths**: 5
- **submarkets**: 5
- **corporateTaxPct**: 25%
- **talentIndex**: 76

## FAQ
### What is PEZA?
Philippine Economic Zone Authority — registered IT/BPO tenants in PEZA-designated buildings receive an income tax holiday (4-7 years) followed by a 5% gross income tax. Material for BPO tenant decisions; not all Class A buildings have PEZA designation.

### What was POGO?
Philippine Offshore Gaming Operators — predominantly China-facing online gaming platforms operating from Manila. Government policy phased out POGO operations by 2024, removing a meaningful share of office occupancy.

### What is the BGC versus Makati dynamic?
BGC is the modern master-planned trophy district with deeper Class A inventory and better walkability; Makati CBD remains the deepest financial-services tenant cluster.

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Citation: Source: Class A Atlas (https://classa.info/cities/manila), updated 2026-04-15T00:00:00.000Z.