Pay lump sum in cash or loan?

I have 3M PHP as my savings / emergency fund. Got an offer for a 10% discount if I pay off my condo balance in full, costing me around 1.4M.

The condo turnover is in 2 years, so no rental income until then. If I pay in cash, I save on loan interest (~172k) but will have a smaller emergency fund.

On the flip side, I could take a personal loan and keep the money in the bank to earn interest. Though earned interest rate will be less than the amount of the loan interest rate i need to pay for my personal loan, at least I have liquid cash.

Torn between paying off the condo for peace of mind or holding onto the cash for flexibility. What would you do?

EDIT: Thanks for the feedback, I received a mail from the developer that the turnover is not 2026, but rather Q2 of 2027, so 3 years not 2