PNB Holdings signs creative agency RNDMD as new tenant at PNB Makati Center

PNB Holdings Corp. has signed a lease agreement with creative agency RNDMD for office space at PNB Makati Center on Ayala Avenue. The 35,000 sq.m. property is currently 86 per cent leased as the company continues to build occupancy and enhance amenities.

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 a new tenant to the property as the company continues to build occupancy. In a disclosure on Thursday, PNB Holdings said RNDMD had opened a new creative studio at the property.

“The leasing activity supports PNB Holdings’ strategy of maximising recurring rental revenues from its portfolio of prime commercial properties while creating additional value through targeted asset enhancement initiatives,” the company said.

PNB Makati Center has about 35,000 square metres of gross leasable area and is currently 86 per cent leased, according to PNB Holdings. Its tenants include corporate offices, traditional office users, and flexible workspace operators. The company said it expects occupancy to increase further as leasing activities continue and additional tenants begin operations in the coming months.

PNB Holdings also said it is enhancing the property’s ground floor with new food, beverage, and lifestyle concepts. The company said the additions are intended to increase activity at the property and provide more amenities for tenants and visitors. “While office leasing remains the property’s primary driver, these improvements are intended to enhance tenant experience, increase visitor traffic, and further strengthen the long-term competitiveness of the asset,” PNB Holdings said.

The lease comes as the company pursues opportunities to expand its property portfolio. PNB Holdings said last week that it was in talks with several property owners for possible acquisitions in Metro Manila as it seeks to add income-generating assets while waiting for market conditions to improve before undertaking large-scale redevelopment of its Makati and Pasay properties. The Lucio Tan-led property company is primarily interested in completed and operating buildings in strategic locations that can immediately generate recurring income rather than undeveloped land that would take years to produce cash flow, its chief financial officer said previously.

Shares in PNB Holdings closed unchanged at P1.20 apiece on Thursday.