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Manila Retail Guide

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Manila Retail Guide MANILA Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Manila | 2019 0 Metro Manila, the country’s capital region, consists of 16 cities and one municipality. This includes the country’s most populated city, Quezon City, and the primary financial and business hubs, Makati Central Business District and Bonifacio Global City in Taguig City. As of 2018, Metro Manila has more than 100 operational shopping centers, with eleven (11) more anticipated for completion up to year 2022. The region is home to three (3) of the largest shopping malls in the Philippines, namely: SM City North EDSA in Quezon City, SM Megamall in Mandaluyong City, and SM Mall of Asia in Pasay City. FACTS ABOUT METRO MANILA: 12.88 million (2015 Census) total population 4.8 million total foreign visitor arrivals via Manila airports and seaports in 2018 MANILA 7.9 million sqm approximate existing retail space in shopping centers and malls in Metro Manila as of 2018. OVERVIEW Cushman & Wakefield | Manila | 2019 1 MANILA KEY RETAIL STREETS & AREAS BAY AREA BONIFACIO GLOBAL CITY (BGC) The Bay Area along the coast of Manila Bay stretches from Bonifacio Global City has attracted a lot of office relocations, Parañaque City to Pasay City. With healthy a demand coming proving itself as a popular business district among multi-national from offshore gaming, IT-BPM, and retail segments, it is home to companies and financial institutions, among others. Apart from one of the country’s biggest retail complexes, the SM Mall of its office buildings and upper-mid to high-end residential Asia (MOA). The MOA complex is a place to a number of offices developments, retail establishments can be found sprawled over and residential properties, while its mall is set to become one of the area. BGC is home to the country’s first high street type the world’s biggest after its planned expansion. Recently, Ayala development, the Bonifacio High Street. Uptown Bonifacio, (a leading developer of real estate in the Philippines) launched Megaworld’s township, is also located in BGC and has its own Ayala Malls Bay Area in Parañaque City. The first phase of which mall and an adjoining Uptown Parade retail strip. Also within is expected to start operation by the end of 2019. BGC are Ayala Malls’ Market! Market!, completed in 2003 and SM Supermalls’ first high-end concept mall, SM Aura Premier, MAKATI CITY completed in 2013. Ayala Center Makati continues to be a bustling shopping district QUEZON CITY and a key development in the financial district that is Makati Central Business District (CBD). Its shopping malls include Quezon City, being the largest and most populous city across the Greenbelt, Glorietta, SM Makati, and Landmark. Pedestrians can country, has a lot of major developments. The major shopping easily walk from one mall to another through numerous bridges malls include SM City Fairview, SM City North EDSA, and and pathways. Ayala Center Makati also serves as a major Ayala’s TriNoma – the last two malls are situated across each transportation hub. The area is a main stop for the premium other along the major highway, EDSA. Adjacent to TriNoma is point-to-point (P2P) bus service, and also provides access to the Ayala’s emerging district, Vertis North. Its mall opened its doors Metro Rail Transit (MRT) system. Also within Makati City are to the public in 2017. The presence of IT-BPM offices in Vertis bustling mixed-use developments, with popular shopping malls North, as well as a hotel, drives traffic not just to Vertis North Mall known as the Powerplant Mall– a high-end retail establishment in but also to the adjacent shopping centers including the high Rockwell Center and the Century City Mall within the Century street type development called Centris Walk. Araneta City, a City complex. mixed-use commercial area, also hosts several retail establishments namely Ali Mall and Gateway Mall. Moreover, ORTIGAS CENTER Ayala completed the second phase of another retail development Ortigas Center is a secondary business district spanning across in the area in 2016 – the UP Town Center in Katipunan, which the cities of Pasig, Mandaluyong, and Quezon. One of the doubled the development’s capacity, while Robinsons Magnolia largest malls—both locally and globally—is SM Megamall, which is set to open a new wing by the end of 2019. expanded with its Fashion Hall in 2013. In close proximities are Shangri-La Plaza Mall and the newly renovated Robinsons Galleria and Podium Mall. These shopping malls generally have high footfall aided by the easy access to various modes of public transportation. In 2017, Ayala Malls established its first presence in Ortigas through Ayala Malls the 30th. Cushman & Wakefield | Manila | 2019 2 MANILA MARKET OVERVIEW KEY AREAS/ AVERAGE TYPICAL STREETS/ CONSUMER MAJOR RETAILERS NEW ENTRANTS GROUND FLOOR RANGE OF UNIT SHOPPING PROFILE PRESENT RENT SIZES CENTERS H&M, Uniqlo, Forever 21, Zara, Tiffanny & Co, John Lobb Mango, Louis Vuitton, Gucci, 2,300 PHP/ SQM/ Makati City Class A, B, and C Bootmaker, Off-White, Vera 45 – 100 SQM Starbucks Reserve, Crate & MONTH Wang Barrel Zara, H&M, Forever21, Crate & At Tokyo, Popeyes, Travelon, 2,000 PHP/ SQM/ Pasig-Mandaluyong City Class A, B, and C 45 – 100 SQM Barrel, Uniqlo, Gucci Innisfree, KVIK MONTH Puma Select , Mr. DIY , M Uniqlo, Pottery Barn, Mango, 2,100 PHP/ SQM/ Taguig City Class A, B, and C Bakery, Shake Shack, Aigle, 45 – 100 SQM Forever 21, Bench MONTH Malongo, Elephant Grounds H&M, Uniqlo, Forever 21, Presotea , Anello, Legato Largo, 2,300 PHP/ SQM/ Quezon City Class A, B, and C 45 – 100 SQM Bench, Penshoppe Baseus, Club Clio MONTH Forever 21, Uniqlo, H&M, Cotton The Alley, FitFlop Galleon, Jim’s 2,000 PHP/ SQM/ Pasay City Class A, B, and C 45 – 100 SQM On, Zara Recipe, Specialized MONTH Cushman & Wakefield | Manila | 2019 3 MANILA SHOPPING CENTERS SM MEGAMALL TRINOMA SM Megamall is currently the second largest shopping mall in the Philippines and places among the world’s Ayala’s TriNoma mall, completed in 2007, is located in largest malls. The mall has three (3) adjoining buildings Quezon City. It is one of the most popular places in the with a total floor area of 474,225 sqm. Since the opening city, which can be easily accessed by foot from adjacent of its Fashion Hall, the mall hosts flagship stores of developments, SM City North EDSA and the rest of various foreign retailers, including H&M, Uniqlo, and Zara. Ayala’s Vertis North district. It also hosts various transport The mall is popular for its large selection of retailers and terminals, being bounded by EDSA, Mindanao Avenue, its central location. It is easily accessible through public and North Avenue, and is connected to the MRT system. and private transportation. While IT-BPM companies, such as Convergys, have been locating in Megamall since 2012, SM is dedicating a separate building for more companies to locate there. This new building is called Megatower and will be completed in 2020. SM CITY NORTH EDSA SM City North EDSA is located in Quezon City and has a SHANGRI-LA PLAZA MALL floor area of approximately 498,000 sqm. To date, it is the country’s largest mall and one of the major shopping Shangri-La Plaza Mall is an upscale mall development by destinations in the city, which has been constantly Shang Properties within Ortigas Center. It is adjoined to expanding from its initial operations in 1985. Since then, Edsa Shangri-La Hotel and is surrounded by a number of SM City North EDSA saw the addition of The Block in high-rise residential buildings, providing a steady source 2006, The Annex in 2008, Sky Garden in 2009, and The of mall-goers. Luxury brands have established their North Towers in 2018. Like other SM malls, SM City North flagship stores mostly in the mall’s newer east wing. Some EDSA will dedicate a building to office relocations which of these brands are Gucci, Alexander McQueen, and will boost its visitor traffic. Givenchy. Cushman & Wakefield | Manila | 2019 4 MANILA SHOPPING CENTERS SM MALL OF ASIA GLORIETTA The SM Mall of Asia is among the world’s largest malls Glorietta is one of Ayala’s central developments in Makati with an existing floor area of 432,819 sqm. Its massive CBD. It is a mall complex consisting of four interconnected expansion plan that will add 250,000 sqm to its size upon sections (Glorietta 1, 2, 3, and 4) and a separate block completion will establish it as the largest mall locally with a called Glorietta 5. The mall is directly connected to SM floor area of approximately 682,819 sqm. It is centered Makati and Landmark and has an access point to the among SM’s other developments, including its office MRT. Its last redevelopment was in 2012 after the complex and condominiums. It has an adjoining events overhaul of Glorietta 1. It has maintained its popularity to venue often hosting large conferences, as well as an this day and is surrounded by office buildings, hotels, and arena for performance shows. The neighboring residential developments. entertainment district and tourist destination make it an ideal stop for visitors and locals alike. GREENBELT BONIFACIO HIGH STREET (BHS) Greenbelt is also an anchor development of Ayala in Makati CBD. It is also comprised of five buildings, Ayala’s Bonifacio High Street is located in BGC and is the Greenbelt 1, 2, 3, 4, and 5. Each building caters to a first of its kind in the country. It utilizes the retail street specific demographic from mid-range to luxury brands.
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