Philip­pines’ largest shop­ping mall de­vel­oper wel­comes Ikea

Southeast Asia Globe - - Agenda -

The Swedish fur­ni­ture com­pany Ikea will soon fur­nish Manila homes, with the Philip­pines' most prom­i­nent de­vel­oper of shop­ping cen­tres preparing to add the store to its Mall of Asia com­plex.

SM Prime Hold­ings plans for the gi­ant fur­ni­ture com­pany to set up shop in a build­ing lo­cated be­tween its con­ven­tion cen­tre and sports arena on a long-term lease agree­ment.

SM Prime also aims to es­tab­lish more Ikeas at its other shop­ping prop­er­ties, but does not have ex­clu­sive rights to the brand in the Philip­pines.

Ikea is ex­pected to boost traf­fic at the Mall of Asia, which al­ready boasts more than 200,000 pa­trons daily. Na­tion­wide, the de­vel­oper's malls at­tract 3.5 mil­lion cus­tomers a day.

The devel­op­ment is a sign of Ikea's growth in the re­gion, adding to stores in Sin­ga­pore, Thai­land, Malaysia and In­done­sia.

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