Tag Archives: Malls

First-half income surges 38 percent for Starmalls


(Source: Inside Retail Philippines | August 18, 2017) Starmalls, the commercial arm of Vista Land & Lifescapes, has had a 38 percent surge in first-half net income to Php1 billion (US$19.4 million). It revenues rose by 35 percent to Php2.7 billion year on year, while EBITDA grew 43 per cent to Php1.95 billion. “We remain optimistic about the retail industry’s outlook ...

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Provincial malls lift SM Prime Q2 profit

SM Retail

(Source: Business World | August 8, 2017) SM Prime Holdings, Inc. grew its earnings by 15% in the second quarter of 2017, as it starts to reap the benefits of establishing more malls in the provinces. In a statement on Monday, the holding firm for the retail and property business reported a net income of P7.79 billion, higher than the ...

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Robinsons Retail sets P4-B capex to ramp up network’s expansion


(Source: Business World | June 28, 2017) Robinsons Retail Holdings, Inc. (RRHI) is hiking capital expenditures (capex) to ramp up the expansion of its existing formats beyond Metro Manila, as the Gokongwei-led retailer continues to pursue mergers and acquisitions to accelerate growth. During the company’s stockholders meeting, RRHI President Robina Y. Gokongwei-Pe said the multi-format retailer is shelling out P4 ...

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SM Prime Holdings hits PHP1 trillion capitalization


(Source: Inside Retail Philippines | June 7, 2017) Property developer and shopping mall company SM Prime Holdings has become the first Philippine company to reach P1 trillion (US$20.1 billion) in market capitalization. “SM Prime acknowledges the investment community’s unwavering support. This is a great moment for us,” the Sy family-owned firm says. The historic record was reached after the family ...

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Invest in online retail, malls told


(Source: Sunstar | 18 May 2017) Amid rising vacancy in retail spaces, a property management and research firm advised mall operators to invest in online shops as a way to “future-proof” their business. Colliers International said the overall vacancy in Metro Manila, for instance, is seen to rise to 10 percent to 11 percent, following the completion of about 500,000 ...

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SM opens 2nd mall in CDO


(Source: Philippine Daily Inquirer | 12 May 2017) Property giant SM Prime Holdings has expanded its footprint in Mindanao with the opening of a lifestyle-oriented shopping mall in Cagayan de Oro (CDO). SM CDO Downtown Premier, which is set to open today, will add almost 178,000 square meters (sqm) of gross floor area to the group’s total retail footprint. “SM ...

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Death of PH retail stores unlikely, says PRA official


(Cebu Daily News | 15 May 2017) Traditional retail stores in the country will continue to thrive despite the growing global digital commerce industry, which has seen the closure of big brands in the United States and other developed economies in recent years. Robert Go, Philippine Retailers Association (PRA) Cebu Chapter president, said the “death” of traditional retail stores in ...

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WHAT TO DO: Earthquake drill at the mall


(Source: ABS-CBNnews.com | July 29, 2015) If you are incidentally at a shopping mall or at any commercial establishment, you have to remember the following: – At exactly 10:30 a.m. on July 30, bells will ring out and the public address system will be used for verbal instructions to signal the start of the metro-wide shake drill. A recording of ...

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DoubleDragon eyes 100 Filipino malls


(Source: Inside Retail Asia | May 14, 2015) A Philippines property developer has raised US$112 million to help fund the ambitious development plan for 100 shopping malls across the nation. DoubleDragon Properties Corp plans to roll out the 100 CityMalls-branded centres by 2020 – the first 25 by the end of this year. The compact community malls will comprise between ...

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SM opens 52nd mall in Philippines


(Source: ABS-CBNnews.com | May 14, 2015) SM Prime Holdings is opening its 52nd shopping mall in the Philippines on Friday. SM Prime, owned by the family of the Philippines’ richest man Henry Sy, said SM City San Mateo is its fourth mall within Rizal province. It also has malls in Taytay, Masinag and Angono. The new mall has 80,043 square meters ...

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