Manila’s retail sector is undergoing a transformation, driven by innovation and strategic positioning, according to the first-quarter report by investment management company Colliers.
Retailers are advised to prioritize securing spaces in business districts with strong office and residential leasing activity. Hubs with upcoming condominium and office tower completions within the next year present promising opportunities. Colliers said the Manila retail landscape is evolving to adapt to changing consumer preferences and maintain its vibrancy beyond the initial post-pandemic surge. The transformation is driven by a focus on innovation, strategic location choices and a diverse tenant mix.Meanwhile, the pre-selling condominium market in Metro Manila is experiencing a slowdown, with developers reporting tepid launches and take-up, due to rising mortgage rates and the long remaining inventory life of existing units.
“Developers need to recalibrate their strategies especially with slow launches and take up in the Metro Manila pre-selling condominium market. Greater land banking and launch of horizontal projects outside Metro Manila looks viable at this point. But there should be more pronounced differentiation of master-planned projects to capture the interest of investors and end users,” Bondoc said.
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