The impact of revenge spending across the country is starting to experience a slowdown and the challenge for both mall operators and retailers now is to encourage the consumers to go spending especially for the Christmas season.
Nevertheless, Colliers Philippines remains bullish because holiday-induced spending will partly offset this projected slowdown. “We are optimistic of sustained interest from retailers, especially those interested to occupy brick-and-mortar mall space in prime locations across the capital region.
“Moving forward, we see greater opportunities for expansion in key areas outside Metro Manila as occupants maximize the second and their tier cities’ skilled talent pool and improve infrastructure networks. Colliers encourages occupiers to continue complementing their workplace strategies with flexible workspace options,” said Kevin Jara, Associate Director of Office Services—Tenant Representation of Colliers.
Further, Bondoc observed pre-selling demand has been recovering year-on-year driven by the mid-income segment, but developers remain cautious of new launches especially given the substantial ready-for-occupancy units and the elevated vacancies in the secondary market.
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