Source references are listed at the end of the report.
Executive Summary
Gil Puyat Avenue Area: A Strategic Transit Corridor
The Gil Puyat Avenue area in Pasay City is a vital transit corridor, strategically connecting key business districts, such as Makati CBD and the Bay Area, with southern Metro Manila. It’s a diverse area, featuring a mix of commercial buildings, government offices, hotels, and transportation hubs. While its prime location and excellent transport links offer significant advantages, the area faces challenges such as heavy traffic congestion, an aging building stock, and a predominantly utilitarian urban environment. Both the office and residential markets in Q1 2025 reflect broader Metro Manila trends of elevated vacancy rates, though Gil Puyat offers more competitive pricing due to its fringe location and older assets. Future infrastructure developments, particularly in rail, are poised to enhance their accessibility and appeal.
Office Market Overview
The office market within the Pasay-Gil Puyat area is influenced by its strategic location between established CBDs and fringe areas, as well as by broader Metro Manila trends.
Vacancy Trends:
While specific vacancy data for the Pasay-Gil Puyat area is not readily available, it likely mirrors the elevated vacancy rates seen across Metro Manila, which ranged from 16-20% in Q4 2024/Q1 2025. Given its proximity to the Makati Fringe, an area known for high vacancies, older buildings in the Gil Puyat corridor are particularly susceptible to higher vacancy levels.
Rental Rates:
Office rental rates in the Pasay-Gil Puyat area are expected to be lower than those in Makati CBD and BGC.
- EasyProperty Match estimates the 2024 Pasay City average office lease rate range at PHP 850-900 per square meter (sqm) per month.
- A specific listing for Trium Square on Gil Puyat Avenue showed a rate of PHP 700/sqm/month (plus VAT and dues). This is comparatively lower than the Bay Area’s range cited by Colliers (PHP 700-900/sqm/month).
- For comparison, JLL reported stable average rents for Makati/Taguig Grade A offices at PHP 1,127.2/sqm/month in Q4 2024.
Office Rental Rates Comparison (PHP/sqm/month)
| Location | Rental Rate (PHP/sqm/month) | Rate Range (PHP/sqm/month) |
|---|---|---|
| Trium Square (Gil Puyat Ave, Pasay) | 700 | 700 |
| Pasay City Average (2024) | 875 | 850–900 |
| Bay Area (Range) | 800 | 700–900 |
| Makati/Taguig Grade A (Q4 2024) | 1127.2 | 1127.2 |
Key Drivers & Trends:
- Connectivity: The area boasts a strategic location with excellent access to major roads and transport hubs, making it an attractive option for businesses prioritizing accessibility.
- Affordability: Compared to prime CBDs, the Gil Puyat area offers more competitive rental rates, making it a viable option for budget-conscious companies.
- Proximity to CBDs: Its proximity to Makati CBD and the Bay Area provides businesses with easy access to major commercial centers.
- Older Building Stock: A significant portion of the buildings in the area are older, which can impact rental rates and contribute to higher vacancy in less modernized spaces.
Residential Market Overview
The residential market in the Pasay-Gil Puyat area is marked by a scarcity of new developments, contributing to the notably high vacancy rates observed throughout Metro Manila.
Vacancy Trends:
Residential vacancy data specific to the Gil Puyat area in Pasay is not provided in detail in recent market research. However, it contributes to the overall high Metro Manila residential vacancy rate, which stood at 23.9% at the end of 2024, according to Colliers. Given the mix of older buildings and its proximity to areas affected by the Philippine Offshore Gaming Operator (POGO) exits, residential vacancy in the nearby areas is likely significant. Colliers had earlier projected Metro Manila vacancy to reach 18% in Q1 2024.
Vacancy Trends Table
| Period | Metro Manila Residential Vacancy Rate (%) |
|---|---|
| Q1 2024 (Projection) | 18.0% |
| End of 2024 (Actual) | 23.9% |
Price Levels:
- Sale and Rental Prices: Specific condominium sale or rental price benchmarks for this immediate area are not widely available. Prices are likely lower than in Makati CBD but potentially higher than in some parts of Manila City, influenced by its accessibility.
- Contextual information indicates that Filinvest Land’s 2021 prospectus mentioned bonds but did not detail specific Pasay condo prices, and RCBC’s annual report is based in Makati.
Infrastructure & Accessibility
Existing Infrastructure:
The Gil Puyat Avenue area is well-served by a robust transportation network.
- Major Thoroughfare: Gil Puyat Avenue itself is a significant N190 highway segment, facilitating east-west travel.
- Key Intersections: It intersects with crucial roads, including Roxas Boulevard (N120/AH26), Taft Avenue (N170), and Osmeña Highway (N145/Skyway access), providing multiple entry and exit points.
- Rail Access: The area benefits from the LRT-1 Gil Puyat station (at the Taft Avenue intersection) and the PNR Buendia station (at the Osmeña Highway intersection), though the latter is currently closed, but near the operational Dela Rosa station.
- Bus Terminals: Numerous provincial and city bus routes operate along the avenue, with major terminals near Taft Avenue, including DLTBCO, JAM Liner, JAC Liner, and LLI Bus Company.
- Traffic Management: A clearway scheme is implemented to manage traffic flow, restricting cross-traffic at certain points.
- Parking: The Trium Square property recently added a new public parking facility, addressing a common urban challenge.
Planned Developments:
The area is poised to benefit from upcoming infrastructure projects:
- North-South Commuter Railway (NSCR): This project will reactivate the PNR line and potentially the Buendia station, significantly improving mass transit options.
- Subway Proximity: The area will benefit from its proximity to future Metro Manila Subway stations planned in the adjacent BGC and Makati CBD areas, offering enhanced connectivity to these major business hubs.
- JICA “Dream Plan”: An elevated expressway along Gil Puyat Avenue was proposed, but its current status remains unclear.
- Buendia Extension: Gil Puyat Avenue connects with the NAIA Expressway (NAIAX) through the proposed Buendia Extension, a key component of the larger SALEX project (Shoreline Expressway and Metro Manila Skyway Stage 3 Extensions), aimed at enhancing traffic flow and accessibility in the area.
Key Infrastructure & Developments
| Feature | Status | Key Detail |
| LRT-1 Gil Puyat Station | Existing | Provides light rail connectivity along Taft Avenue |
| PNR Buendia Station (future NSCR) | Existing (to be reactivated) | The future NSCR station will enhance commuter rail access |
| Major Bus Terminals | Existing | Hub for numerous provincial and city bus routes |
| Gil Puyat Ave as N190 Highway | Existing | Key east-west highway segment |
| Proximity to Future MM Subway | Planned | Access to Makati & BGC subway stations |
Key Business Presence & Amenities
Major Companies & Industries:
The Pasay-Gil Puyat area hosts a variety of establishments:
- Government Offices: Includes key offices such as the Department of Trade and Industry (DTI), Department of Tourism (DOT), Philippine Guarantee Corporation (PhilGuarantee), NAPOLCOM NCR, Philippine Statistics Authority, and various BIR District Offices.
- Commercial Establishments & Hotels: Features a variety of businesses and hotels, particularly in the Bay City area, including the Networld Hotel Spa & Casino, Ayala Malls Manila Bay, and Resorts World Manila.
- BPO Operations: Some BPO companies operate here, though business development and their operations may have been impacted by POGO exits.
- Transportation: A significant presence of bus companies operates major terminals along the avenue, underscoring its role as a transport hub.
- Nearby Landmarks: The World Trade Center Metro Manila is conveniently located nearby.
- Corporate Offices: Older companies, including 3M Philippines, have offices in Pasay. Petron Corporation’s headquarters are also on Gil Puyat Avenue, though just across the border in Makati.
Healthcare:
The area offers strong healthcare accessibility:
- Adventist Medical Center Manila: (Formerly Manila Sanitarium and Hospital) is located directly on Gil Puyat Avenue.
- Pasay City General Hospital: Also located nearby.
- Accessibility: Offers convenient access to Makati Medical Center and hospitals in Manila’s Malate/Ermita districts. San Juan de Dios Hospital is also accessible via Roxas Boulevard.
Dining & Lifestyle:
The dining scene in the Pasay-Gil Puyat area offers a mix of local eateries, fast-food chains, and restaurants, alongside various entertainment options available, primarily catering to office workers, commuters, and residents. Hotel restaurants, such as those within Networld Hotel, provide additional options. The proximity to the diverse dining scenes in Malate/Ermita and the Bay Area (including the SM Mall of Asia complex) significantly expands the choices available to those in the area.
Livability Assessment
Strengths:
- Excellent Transportation Connectivity: Well-connected via major roads (Gil Puyat, Taft, Roxas, Osmeña/SLEX/Skyway) and rail (LRT-1, nearby PNR).
- Provincial Access: Numerous bus terminals provide convenient access to and from various provinces, making it ideal for commuters.
- Proximity to Employment Hubs: Its location near major business districts like Makati CBD and the Bay Area offers easy access to job opportunities.
- Relative Affordability: Offers relatively more affordable office and, potentially, residential options compared to prime CBDs.
- Healthcare Access: Home to Adventist Medical Center Manila and close to other major hospitals.
Challenges:
- Severe Traffic Congestion: High traffic volume is a persistent and significant issue on Gil Puyat Avenue and its intersecting roads.
- Dated Urban Environment: The prevalence of older building stock contributes to a somewhat dated feel in the area.
- Pollution and Noise: Heavy traffic results in considerable noise and air pollution, impacting quality of life.
- Limited Green Spaces: A noticeable lack of public parks and recreational green spaces directly along the avenue.
- Safety Concerns: Potential safety concerns may arise, particularly at night around transport terminals and in less developed sections.
- Flood Susceptibility: Some parts of the area are known to be susceptible to flooding during heavy rains.
HI’s Perspective / Our HI Five score
The Pasay City (Gil Puyat Avenue Area) scores Low to Medium in terms of overall livability. Its primary strengths lie in its excellent transportation accessibility and strategic proximity to major business districts and transport terminals. This makes it a crucial transit corridor.
However, its appeal as a residential neighborhood is significantly hampered by severe traffic congestion, noise and air pollution, a lack of green spaces, and a generally utilitarian and dated atmosphere. It functions more effectively as a thoroughfare and a location for specific commercial and government services rather than a desirable place to live for those seeking a high-quality residential environment, though its convenience for commuting is a key advantage for some.
This report is based on market data as of Q1 2025. HousingInteractive provides this analysis for informational purposes only.
References
[1] Metro Manila condo launches fell to the lowest level in 5 years, LPC BusinessWorld Online
[2] From uncertainty to opportunity: Key trends shaping the 2025 office market
[3] Colliers: Metro Manila land prices to drop 2-5% amid growing condo glut and office vacancies – Bilyonaryo
[4] Q1 2024 Office Market Report – Contact Center Association of the Philippines
[5] NCR Q1 residential vacancy rate seen at 18% – BusinessWorld Online
[6] Reclamation | PRA Website
[7] The San Juan de Dios Educational Foundation, Inc.
[8] Average Office Lease Rates in Metro Manila, Philippines – 2024 – Easy Property Match
[9] Office Spaces for Rent in Trium Square, Sen. Gil Puyat Ave, Pasay – Easy Property Match
[10] Shelf Registration in the Philippines of Fixed-Rate Bonds of up to P30.00 Billion – Filinvest Land, Inc.
[11] April 5, 2024 Disclosure Department The Philippine Stock Exchange, Inc. 6/F PSE Tower 5th Avenue corner 28th Street Bonifacio Global City, Taguig City Dear Sir/Ma’am – PDS Group
[12] New Parking Facility Alert: Find Us at Trium Square, Gil Puyat Avenue! – UPark
[13] List of Companies PDF | PDF | Makati | Metro Manila – Scribd
[14] 2020 Top 100 Corporations In The Philippines – Makati Web Portal
[15] National Capital Region – RNpedia
[16] Pros & Cons of Living in Metro Manila, Philippines – YouTube
