Pampanga stands out as a property market in Central Luzon. Outside of Metro Manila, it has one of the largest residential and office stocks. It remains as one of the most preferred sites of outsourcing firms while major residential developers continue to landbank in the province.
Hotel and retail sectors also continue to perform well, as Pampanga attracts foreign hotel brands as well as national players planning to put up sizable retail centres in Clark and Angeles.
The province also continues to thrive due to its competitive workforce, improving infrastructure network, rising disposable incomes, and thriving competitiveness.
Ascending office market in Central Luzon
The Pampanga office market continues to rank among the top three most active provincial office sectors outside Metro Manila, maintaining a steady quarterly transaction volume of approximately 12,000 sqm. This sustained activity is largely driven by the expansion of business process outsourcing (BPO) firms, reflecting a broader industry trend of locating operations in regional areas to tap into a wider talent pool and benefit from more competitive rental rates.
Prominent companies such as Sutherland, DXC Technology, IntouchCX, and KMC Solutions have recently expanded their footprint in the region, contributing to a year-to-date net take-up of around 33,000 sqm—nearing the full-year 2024 figure of 40,600 sqm. This indicates growing confidence in Pampanga’s office market.
As of the first half of 2025, the vacancy rate has declined to 19.4%, down from 24.6% at the end of 2024. The total available stock stands at approximately 538,000 sqm, with the majority concentrated in Clark Global City. This area remains the province’s premier business district, benefiting from mature infrastructure, proximity to Metro Manila, and international connectivity via Clark International Airport.
New supply added in 2025 includes 9,000 sqm from Megaworld’s Pasudeco Tower 1 in San Fernando, one of Pampanga’s emerging urban centers. Looking ahead, an estimated 86,000 sqm of additional office space is expected to be delivered between 2026 and 2029 across Clark and San Fernando by SM, Aeropark, and Megaworld, supporting continued growth and development in the region.
Resplendent residential hub outside Metro Manila
Pampanga is ripe for more residential developments. From landed residential units to residential lot only projects to golf communities, Pampanga is definitely a locality to watch out for, given its thriving attractiveness for masterplanned communities and growing interest from national players.
National developers continue to expand and look for developable parcels of land. In Pampanga, this has resulted in a hefty increase in land values in the prime residential and office hubs of Angeles, San Fernando, Mabalacat, Magalang, and Porac. Meanwhile, some homegrown players remain active with their horizontal projects, looking at sites outside of their traditional growth areas. Given the growing appetite for condominium units as investment options within Pampanga, Colliers has seen demand coming not just from Kapampangans but also from Metro Manila-based investors looking for residential investments outside of the capital region that have enormous price appreciation potential.
Colliers data show that Pampanga has one of the largest residential stock outside of Metro Manila, and these projects have strong take-up as of H1 2025.
Among the national and homegrown players with massive residential footprints in Pampanga are Megaworld, Filinvest Land, SMDC, Ayala Land, Rockwell Land, Century Properties, Vista Land, Hauslands, Solana Land, Pacific Homes, and Empressa Homes.
Build, Better, More in Pampanga
Major infrastructure projects lined up for completion even beyond President Marcos’ term should further boost Pampanga property market’s competitiveness.
The North Commuter Railway (NCR) is a 90-kilometre project that aims to connect Clark International Airport in Pampanga and Tutuban in Manila. Phase 1 of the project involves the 38-kilometre line from Tutuban to Malolos, while Phase 2 will run from Malolos to Clark in Pampanga. Once Phase 1 becomes operational, travel time from Tutuban to Malolos will be reduced to 35 minutes from 1 hour and 30 minutes. About 300,000 people are expected to be served daily by the railway. The North Commuter Railway is scheduled for completion by 2028.
Meanwhile, the Central Luzon Link Expressway (CLLEx) is a 66.4-kilometre road project that will connect Tarlac City and San Jose, Nueva Ecija. The Phase 2 of the project, which spans 35.7 kilometres and connects Cabanatuan City and San Jose City, Nueva Ecija, is projected to be completed beyond 2028.
Other Central Luzon projects, including the New Manila International Airport and Metro Rail Transit (MRT) 7 in Bulacan, should complement Pampanga projects and further enhance the already improving connectivity in Pampanga and across Central Luzon.
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