By Daily Tribune
Immersive concepts, such as SM Fairview’s Fantasy World, the Philippines’ largest indoor amusement park that recently opened in a 3,000-sq metre (32,300 sq feet) space, aim to attract more foot traffic.
The upcoming year is seen to have more focus on transactional and experiential service for the retail sector.
According to a Colliers report, with rising interest in the Philippine retail landscape, the entry of more anchor tenants in major regional and super-regional malls across the capital region is expected. Foreign players are also becoming aggressive in taking up physical mall space.
Immersive concepts, such as SM Fairview’s Fantasy World, the Philippines’ largest indoor amusement park that recently opened in a 3,000-sq metre (32,300 sq feet) space, aim to attract more foot traffic.
Other experiential retail brands that opened are Space & Time Cube+ in S Maison and Science XPdition in Ayala Malls Manila Bay.
The report added that major developers have been renovating their existing retail spaces, including SM Megamall, SM East Ortigas, Robinsons Forum, Filinvest Mimosa Mall, Power Plant Malls in Bacolod and Pampanga by Rockwell Land, Megaworld’s The Upper East Mall in Bacolod, Ayala Malls Abreeza expansion, and the redevelopment of Ayala Center Cebu and Robinsons Bacolod.
Ayala Land, meanwhile, is setting aside P13 billion to redevelop Glorietta and Greenbelt 2, Trinoma and Ayala Center in Cebu.
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