Shopping Frenzy Spurs PH Mall Owners to Add Record Space

Philippine builders like SM Prime Holdings Inc. (PSE: SMPH) and Ayala Land Inc. (PSE: ALI) can’t add retail space fast enough to satisfy demand from Southeast Asia’s most-confident consumers that pack Manila’s malls.

A record 724,620 square meters (7.8 million square feet) of new retail space will be added in the Philippine capital next year, according to Colliers International. That is a 10th of the existing stock as of the third quarter, according to the real estate broker.

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Source: Manila Bulletin

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