Newly listed PNB Holdings Corp. has signed a lease agreement with creative agency RNDMD for office space at PNB Makati Center along Ayala Avenue, adding another tenant as the property company works to increase occupancy and recurring rental income.
RNDMD has opened a new creative studio at the Makati property under the newly signed lease agreement. PNB Holdings said the deal forms part of its strategy to maximize recurring revenues from its portfolio of commercial properties while creating additional value through targeted improvements to its assets.
PNB Makati Center has approximately 35,000 square meters of gross leasable area and is currently 86% leased, according to PNB Holdings. The company expects occupancy to increase further as ongoing leasing activities bring in additional tenants and existing deals move toward operations.
The property is located along Ayala Avenue, one of Makati’s major commercial corridors. Its location gives the building access to the central business district’s established office, retail, transportation and business infrastructure.
PNB Holdings is also working to broaden the mix of activities within the property. The company is enhancing portions of the ground floor to accommodate new food, beverage and lifestyle concepts intended to increase activity at the property and provide additional services for tenants and visitors.
While office leasing remains the primary driver of the property, the company said the planned improvements are designed to enhance the overall tenant experience and attract more visitors. The additions are also expected to strengthen the building’s competitiveness as Makati’s business district continues to evolve.
The latest lease follows other efforts by PNB Holdings to build its tenant base. Earlier in September, the company announced a new five-year lease agreement with Giftaway, Inc. at PNB Makati Center, adding another corporate occupant to the property.
PNB Holdings has been pursuing a strategy centered on income-generating real estate assets. Rather than relying solely on future redevelopment projects, the company has indicated that it is interested in properties that are already completed and operating so they can generate recurring revenues.
The company has also been exploring potential acquisitions of additional income-generating properties in Metro Manila. Management has said it is primarily looking at completed buildings in strategic locations while waiting for market conditions to become more favorable for larger redevelopment projects involving its existing Makati and Pasay properties.
The leasing push comes shortly after PNB Holdings began trading on the Philippine Stock Exchange through a listing by way of introduction on Sept. 25. The company is part of the LT Group and holds a portfolio of commercial and property assets.
PNB Holdings reported revenue of P634.3 million in the first half of 2026, representing a 26% increase from the previous year. The company has been positioning its property portfolio around long-term income generation while continuing to improve the performance and tenant mix of its existing assets.
The addition of RNDMD therefore comes as PNB Holdings continues to fill available space at PNB Makati Center while developing more retail and lifestyle components around the office environment. With occupancy already at 86%, the company expects further leasing activity to gradually raise utilization of the property.
For PNB Holdings, the strategy reflects a broader focus on strengthening recurring rental income from existing assets while selectively pursuing new properties that can contribute to the company’s earnings.
