Malls, online shops seen to further boost real estate

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By: Philstar

Malls and online shops can complement each other according to property consultancy firm Lobien Realty Group.

The firm sees more than one million square meters of gross floor area for shopping malls to be added from 2020 to 2022, driven by optimism from mall developers.

Expansion will come fomr the 120,000 sqm. Gateway Mall 2 in Quezon City, the 16,000 sqm SM Mall of Asia Phase 4, 100,000 sqm Greenhills Shopping Center expansion in San Juan, the 20,000 sqm Big Apple Mall in Taguig City, and the 54,700 sqm One Ayala, among others.

As malls continue to expand, they also need to evolve by providing more entertainment and experience to malls-goers, LRG said.

The e-commerce growth on the other hand will lead to a fusion of online and offline, justy as with SM and Lazada partnership, where the malls are used as hub for pick-up and return and exchange.

The firm however emphasized on the importance of stepping up the logistics sector to complement e-commerce growth in the country and provide seamless experience to shoppers.


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