Philippines’ largest shopping mall developer welcomes Ikea
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.