The Philippines’ shopping mall chains have virtually taken over the provinces, branching toward every urbanizing town or city to offer products that provincial customers used to buy only from Metro Manila stores.
Ayala Land Inc. will soon debut into the department store retailing format in partnership with the Rustan’s group by investing in the anchor tenant of a new Ayala shopping center rising in Fairview, Quezon City.
MANILA, Philippines—SM Prime Holdings, the Philippines’ dominant shopping mall developer and operator, grew its first quarter consolidated net profit by 12 percent to P2.12 billion from a year ago on higher rental earnings. SM Prime disclosed to the Philippine Stock Exchange on Tuesday that revenues grew by 13 percent to P6.07 billion during the first [...]
CEBU CITY, Philippines—In about two years, the biggest shopping mall in Cebu costing over P4 billion will rise at the city-owned reclaimed property, South Road Properties. Building the mall is retail giant SM Prime Holdings. SM Prime president Hans T. Sy said the P4.5-billion shopping mall would be the fourth biggest among its malls in [...]
