CEBU’S office market posted a sharp decline in the first half of 2026, with demand falling 68.2% year on year to 20,200 square meters (sq.m. of office demand in what CBRE described as a “massive bull run” that outperformed several major Metro Manila submarkets. CBRE said Cebu accounted for the steepest decline in provincial office demand during the first half, contributing to an overall 37% drop across key provincial office markets. Zory Mangelen, director for office leasing at CBRE Philippines, said rental costs are no longer the primary consideration for BPO locators. of office space as they adapt to artificial intelligence (AI).