Despite the current challenges in the retail market, some developers are unfazed and have actually opened new malls outside of Metro Manila.
Sy-owned SM Group, for instance, opened its SM City Daet in the province of Camarines Norte, which added 47,000 square meters (sqm) of gross floor area to its mall portfolio.
Gokongwei-owned Robinsons Land Corp. also opened its Robinsons Place La Union last month.
Adapting to change
As the pandemic accelerated the shift of many industries to the digital world, Colliers Philippines is urging both mall operators and retailers to maximize the use of technology and consumer analytics.
“Mall operators should continue maximizing their online platforms while retailers should complement their physical stores with e-commerce platforms,” Colliers said
