Positive absorption alongside stable market activity

• Q2 2026 recorded net absorption of 360 units, reflecting sustained momentum from the first quarter, with high net-worth clients driving demand.
• Leasing market remained stable behind stable demand from expatriates.

Vacancy rate improves marginally driven by sustained market interest

• An additional 306 units across development projects (Eluria and Park Central – South) reached completion in Q2 2026, delivered on schedule with unit transfers to clients currently underway across the portfolio.
• Overall vacancy rate improved to 6.2% in Q2 2026, declining 8.4 basis points from the first quarter, reflecting sustained leasing momentum throughout the period.

Modest rental growth continues while capital values decline

• Rental rates reached PHP 882.6 per sqm per month, a modest 0.4% increase, as several landlords apply escalation rate.
• Capital values eased to PHP 306,109 per sqm in Q2 2026, a 0.2% quarterly decrease, as select aging inventory saw price decline.

Outlook: Moderate growth is projected in the near-term outlook

• Upcoming supply may face a cautious environment amid potential interest rate movements, resulting in modest absorption.
• Rental growth is anticipated to moderate as older developments adjust rates to remain competitive. Meanwhile, capital values are expected to maintain steady growth momentum.