Low retail rents, rising incomes to attract int’l brands to PH – JLL

remain affordable compared to others in the region and this should attract more international brands into the country, further fueling the growth of the local retail property market this year, a property analyst said.

In an interview on Tuesday, of project leasing markets Shiela TheManilaTimes that while rental rates for ground rising due to the high market demand, when compared to the regional landscape, retail rent in the country is still the cheapest.

“If you look at the rental rates in Asia Pacific, Manila is the cheapest. Hong Kong is the most expensive, Singapore maybe in the middle and even - bien explained.

“So the Philippines is still the cheapest, though the rental is already increasing for the ground floor space. If you look at it on a macro level, it’s still very low.”

as of 2015, Manila continues to offer the most affordable shopping centers in the region at $ 555 per square meter per annum. In contrast, Hong Kong commands the most expensive retail rents at $ 15,661 per square meter per annum.

relatively lower compared to noted that more international retail brands are expected to enter the Philippine retail market.

In addition, the rising income of Filipinos is also attracting international brands to set up shop in the country.

“Almost all the big brands that are in Singapore, Hong Kong and see H&M, Forever21 and all the other big brands, they’re here. Even the brands as prestigious as Apple, they’re looking at the Philippines now, to have their have one yet. So it’s going to grow because of the rising incomes of

- salle’s Global Cross Border Retailer Attractiveness Index 2016, retail city, as it ranks 29th on the list of top 50 attractive cities for retail.

Growth cities are those that of the retail sector, according

“Strong retail sales growth is driven by an expanding population, rapidly rising middle classes and fast track urbanization,”

- pino consumer market is becoming more “sophisticated” and is being more exposed to what is happening abroad, as travelling cost has become less expensive.

“Before, we don’t know those brands. Nowadays, we are familiar with all the international brands and we’re looking for that

Some of the new international brands that have recently entered the Philippines, according Milk Cheese Factory, Fatburger, among others.

In order to enter the Philippine market, these foreign brands would have to partner with the big local retail players, and almost all the big local players are willing to partner with the popular brands, she said.

Forever21, H& M etc. There are a lot of others like the Bench Group, they have their interna