Tag Archives: Malls

Hanoi retail development spreading beyond CBD, says CBRE

Vietnam

(Source: Inside Retail Asia | March 29, 2018) Hanoi’s retail supply is growing outside the CBD area, reports real-estate company CBRE. With a total of 157,000sqm of retail coming from eight projects under development in fast-growing residential areas with good connecting infrastructure, CBRE says the suburban growth is expected to be attractive to both retailers and consumers. Malls inside residential ...

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Brick-and-Mortar spaces stay relevant in PH retail

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(Source: Sunstar | March 26, 2018) There remains a healthy play of traditional and online stores in the Philippines today, amid reports that brick-and-mortar outlets are on the way out in other countries. Joey Roi Bondoc, research manager at Colliers International Philippines (Colliers Philippines), said brick-and-mortar stores can still coexist with online retail in the Philippines, as malls are the ...

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E-commerce not the only cause of death for Canadian malls

(Photo from: www.cp24.com)

(Source: Philippine Canadian Inquirer | March 12, 2018) Malls were once a go-to shopping destination and a teenager’s hang-out of choice, but now face an uncertain future as some of their biggest tenants lay off employees, file for creditor protection or hang a “closed” sign in the window and leave for good. Beleaguered retailers have been quick to blame online ...

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DoubleDragon profits surge as malls rise

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(Source: Manila Bulletin | March 5, 2018) DoubleDragon Properties Corporation (DD), the joint venture between Philippine fastfood gurus Edgar “Injap” Sia II and Tony Tancaktiong, reported a 71.8 percent jump in consolidated net income to P2.53 billion last year from P1.47 billion in 2016. In a disclosure to the Philippine Stock Exchange, the firm said its recurring revenue has risen ...

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Business of happiness: How malls plan to weather e-commerce rise

(Photo from: business.inquirer.net)

(Source: ABSCBN News | February 28, 2018) A deep mall culture, wherein the giant air-conditioned structures are at the center of happy family activities, will help brick and mortar retail withstand the rise of e-commerce, industry stakeholders said. The country’s largest mall operator, SM, is “bullish” on retail, said SM Investments vice chairman Teresita Sy-Coson. The company earlier announced plans ...

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SM Prime recurring net income grew 16% in 2017

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(Source: Business Mirror | February 19, 2018) SM Prime Holdings Inc. (SMPH) said it had a recurring net income growth of 16 percent in 2017 to P27.6 billion, from P23.8 billion of prior year on the back of the expansion of its main shopping mall business. Consolidated revenues grew 14 percent to P90.9 billion in 2017, from P79.8 billion in ...

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Work like you own it–SM’s COO Steven Tan

(Photo from: townandcountry.ph)

(Source: Manila Bulletin | February 18, 2018) Steven Tan was in a movie theater when he got a call, which he’ll never forget, from a woman, offering him a job. The woman was Tessie Sy-Coson, vice chair of SM Investments Corporation. “It was beyond ordinary that someone like Tessie, a tycoon, part of a family that’s one of Asia’s richest, ...

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Ayala Land net income up 21% in 2017

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(Source: Rappler | February 14, 2018) Ayala Land Incorporated (ALI), the property development arm of the Ayala Group, saw its bottom line rise on the completion of projects and growth from its leasing segment. ALI reported a full-year 2017 net income of P25.3 billion in 2017, in a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, February 14. The ...

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SM Prime opens 6th Cavite mall

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(Source: Business Mirror | February 15, 2018) The shopping mall empire of country’s richest man Henry Sy, Sr. continues its provincial expansion with the opening of SM Center Imus in Cavite. In a statement issued Wednesday, SM Prime Holdings, Inc. (SM Prime) said it will be opening the mall on Friday (Feb. 16) with 90% of its leasing space already ...

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Megaworld Corp opening mall with dog park

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(Source: Inside Retail Philippines | February 7, 2018) Megaworld Corp will open a PHP2.2 billion (US$42.6 million) “pet-friendly” mall in Iloilo City in April. Expected to create at least 3,500 jobs, the developer’s first full-scale mall in the Visayas will feature open spaces, vertical gardens and an interactive dog park, says Megaworld Lifestyle Malls senior VP Kevin Tan. Over three ...

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