Manila

Manila

Metro Manila is the center of economic activity in the Philippines and is composed of 16 cities and one municipality, including Quezon City (the country’s most populated city) and Makati City (the country’s premiere business district).

As of the first quarter of 2015, the region is home to over 100 shopping centers. Three of the largest malls in the world are located in Metro Manila, namely, SM City North EDSA in Quezon City, the SM Mall of Asia in Pasay City, and SM Megamall located in Mandaluyong City. Consumption of goods and services continues to be an integral part of the economy, and as a result, almost 200 international brands have made their way to the Philippines since 2007.

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SM Mall of Asia: 14.535058, 120.982132
AYALA CENTER MAKATI: 14.557310, 121.019864
BONIFACIO GLOBAL CITY: 14.553006, 121.052130
BAY CITY AREA: 14.519915, 120.981799
ORTIGAS CENTER: 14.581083, 121.059309
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SM MALL OF ASIA


SM Mall of Asia Complex is where one of the largest malls in the Philippines, and is located on reclaimed land in Pasay City. It is one of the major developments present in the area, and is considered as a must-see tourist attraction in Manila with its close proximity to the Manila Bay.
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BAY CITY AREA

The Bay City Area encompasses the reclaimed area along the coast of Manila Bay that is bounded by Asiaworld City district in Parañaque City up to the Mall of Asia Complex in Pasay City. There are several mixed-use districts in the area but majority of the retail activity is concentrated within the Mall of Asia Complex where SM Mall of Asia, several office and residential developments by SM are located. The development of the nearby Entertainment City, which is envisioned to be a leisure and gaming complex district, and the new mall by Ayala Land, Inc. (ALI) in Aseana City is projected to drive further retail activity in the area.
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AYALA CENTER MAKATI

Ayala Center Makati is a key locality within Makati CBD that is dominated by retail developments such as Greenbelt, Glorietta, Landmark, and SM Makati, among others. The Glorietta area is currently being redeveloped into a mixed-use district where BPO offices, high-end residential condominiums, and hotels are being constructed. The entire area is connected by bridgeways and walkpaths and is highly accessible to EDSA, one of the main thoroughfares of Metro Manila, and to the Ayala Metro Rail Transit (MRT-3) station.
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BONIFACIO GLOBAL CITY

Bonifacio Global City has become one of the fast emerging business districts within Metro Manila owing to its world class facilities and master-planned development. It is host to a significant number of new office buildings as well as select high-end and luxury residential condominiums. The district is anchored by the the Bonifacio High Street, the first high street type retail development in the country.
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ORTIGAS CENTER

Ortigas Center is the secondary business district of the country and is straddled by three different cities: Pasig City, Mandaluyong City, and Quezon City. Major shopping malls such as Shangri-La Plaza Mall, SM Megamall, and Robinsons Galleria, are located in close proximity to one another and benefits from strong footfall due to the high pedestrian and vehicular traffic in the area.

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SM City NORTH EDSA: 14.656820, 121.030396
SM MEGAMALL: 14.583879, 121.056928
Bonfacio High Street: 14.553006, 121.052130
SHANGRI-LA PLAZA MALL: 14.581163, 121.055054
TRINOMA: 14.653504, 121.033487
SM MALL OF ASIA: 14.535058, 120.982132
GLORIETTA: 14.551310, 121.025391
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SHANGRI-LA PLAZA MALL

Shangri-La Plaza Mall is an upscale mall development by Shang Properties located in Mandaluyong City (within Ortigas Center). The mall is connected to other developments by Shang Properties such as the Shangri-La Hotel, which provides it with a stable catchment and good footfall. Select high-end and luxury brands such as Jimmy Choo, Gucci, and Givenchy have opened their flagship stores in the mall.
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TRINOMA

The TriNoma mall is located adjacent to the SM City North EDSA in Quezon City.The mall forms part of the Vertis North district by ALI where several offices and residential projects are planned for construction. While TriNoma was only completed in 2007, the mall has easily become one of the most highly visited malls in the city.
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SM MALL OF ASIA

The SM Mall of Asia, is the third largest mall in the Philippines. The 407,000-square meter mall is the centerpiece of a complex around which SM has built and is currently expanding. It has become a popular tourist destination due to the variety of retail and entertainment offerings within the mall and in its neighborhood.
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Bonfacio High Street

Bonifacio High Street (BHS) in Bonifacio Global City, Taguig City, is the first prime street retail concept in the country, a flagship project of ALI. It opened in 2007 and expanded in 2012 with the completion of the Bonifacio High Street Central. The entire development sits atop a prime location at the center of Bonifacio Global City where it is adjacent to the existing One and Two Serendra residential condominiums and the West Super Block.
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GLORIETTA

Glorietta is a shopping mall conveniently located in Ayala Center Makati. It consists of five sections, namely, Glorietta 1, 2, 3, 4, and 5. The first four sections are housed under a single building while Glorietta 5 has its own separate building. The mall remains as one of the popular shopping centers in Metro Manila given its highly accessible location within Makati CBD.
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SM MEGAMALL

SM Megamall is the largest shopping mall in the Philippines and one of the largest malls in the world. The mall is composed of three interconnected buildings with a consolidated floor area of over 500,000 sqm. The mall is strategically located at the corner of EDSA and Doña Julia Vargas, benefiting from good visibility and accessibility.
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SM City NORTH EDSA

SM City North EDSA is located in Quezon City, and is the Philippines’ second largest mall with an estimated area of 483,000 square meters. The mall has been a top shopping destination of the city since its completion in 1985 and has expanded with significant additions in 2006 (The Block), 2008 (The Annex), and 2009 (Sky Garden).

SHOPPING CENTER TO WATCH OUT FOR
Ayala Mall – Aseana City (Official Name TBC)ASEANA CITY, PARAÑAQUE CITY
Total Size (Sq.m) ~200,000 sq.m
- Retail GLAN/A
- Leisure/Entertainment GLAN/A
Planned Opening Date 2H2018
Consumer Profile Class A, B, and C
Description Part of a mixed-use complex to be developed on a 9.2-hectare property; includes the retail mall, a business process outsourcing (BPO) center, and a hotel

MARKET OVERVIEW
KEY AREAS / STREETS/SHOPPING CENTERSCONSUMER PROFILEMAJOR RETAILERS PRESENTNEW ENTRANTSAVERAGE GROUND FLOOR rent sqm/MONTHtypical range of unit sizes
Makati CityClass A, B, and CAeropostale, American Eagle, Brooks Brothers, Desigual, Hermes, Hugo Boss , River IslandF&F, Old Navy, Oliviers & Co., Rubi Shoes, Sfera, Shana, Savile Row and Burton 2,300.0045 - 100sqm
Pasig/MandaluyongClass A, B, and CAeropostale, Brooks Brothers, G2000, River Island, Shana, ZaraCarven, Crate and Barrel, H&M, MBT Shoes, Minelli, Nao de Brasil Old Navy, Paul & Shark, Pull and Bear, Santoni, St. Marc Café, Savile Row and Burton, Under Armour, Uno de 50, Vero Moda2,200.0045 - 100sqm
Taguig CityClass A, B, and CAeropostale, American Eagle, Desigual, Karen Millen, Minelli, Nike, Onitsuka Tiger, River Island, Saboten, Stefanel, SuiteblancoBrooks Brothers, Casadei, Eddie Bauer, Hamley’s, Joseph, Old Navy, Oliviers & Co., Pottery Barn, Under Armour Uno de 50, Vero Moda 2,300.0045 - 100sqm
Quezon CityClass A, B, and CAeropostale, American Eagle, G2000, ShanaF&F, H&M Home, Rubi Shoes, Savile Row and Burton, Under Armour2,000.0045 - 100sqm
Pasay CityClass A, B, and CMANGO, UNIQLOUno de 50, Rubi Shoes, Suiteblanco1,900.0045 - 100sqm

Data as of April 2015

The food and beverage (F&B) sector continues to be among the driving forces of local retail. At least 65 new foreign F&B retailers entered the Philippine market between 2008 and 2014. It is interesting to note that local F&B operators remain competitive despite the influx of foreign brands. New brands are concentrated in key areas like Ortigas Center, Ayala Center Makati, and Bonifacio Global City, where there is new supply of available shopping mall space, while existing brands continue to expand aggressively across Metro Manila and provincial locations.

Quick service restaurants continue to dominate the local F&B scene, however, rising disposable incomes and increasing sophisticated consumer tastes has led to a growing number of upper mid-end and high-end local and foreign food options. Some new casual dining and full-service restaurants in the market include Todd English Food Hall, Nobu at City of Dreams, Dean and Deluca, Aracama, and Wholesome Table, to name a few. The trend of specialized restaurants have also begun to emerge in the local food scene. Katsu (Japanese breaded pork), ramen (Japanese noodles), and artisan pizza restaurants are quickly becoming staples for Filipino consumers.

With the Filipino’s known fascination of food and cuisine, it is not surprising to see a number of dining districts that are scattered all throughout Metro Manila. From small eateries to fine dining restaurants, it almost comes to a point that one would come across a diner at every turn.

MARKET OVERVIEW
KEY AREASCONSUMER PROFILEFOOD & BEVERAGE OPERATORS ESTIMATED AVERAGE RENT
Makati CityClass A, B, and CTWG Tea, BonChon Chicken, Dean & DeLuca, Gelatissimo, Lusso, J.CO Donuts & CoffeePhp2,300/sqm/mo
Pasig/MandaluyongClass A, B, and CIppudo, Seoul Garden, Osaka Ohsho, Papa John’s, Tim Ho Wan, KyochonPhp1,100/sqm/mo
Taguig CityClass A, B, and CSaboten, Todd English Food Hall, Jamba Juice, Triple O’s, Village TavernPhp2,200/sqm/mo
Quezon CityClass A, B and CRed Mango, Hanamaruken, Happy Lemon, Slappy Cakes Php2,000/sqm/mo
Pasay CityClass A, B and CModern Shanghai, Mitsuyado Sei-men, Krispy KremePhp1,900/sqm/mo

Data as of April 2015


Manila Contacts

JANLO DE LOS REYES

Manager – Research & Consultancy, Philippines
L +63 (2) 554 2927 

Cushman & Wakefield Philippines, Inc. 
Unit 901 & 906, 9th Floor, Ecotower 
32nd Street corner 9th Avenue
Bonifacio Global City, Taguig City
Metro Manila, Philippines