A glance at the future of Philippine retail
In a country that has outpaced China and other Southeast Asian countries with a GDP of 6.9 percent in the last quarter, a strong domestic consumption promises a growing trajectory not only in national economic gains but also in the future of mall expansions.
‘Through the years, we have seen merchants with humble beginnings turn into success stories,” quipped Ayala Land Vice President Junie Jalandoni at the recent Ayala Malls Merchant Rewards held at Fairmont Hotel Makati.
Jalandoni commemorated Ayala Malls’ simple beginnings since the 1950s, when it was hard for the company to convince locators to go to Makati, and acknowledged merchants that opened their first-ever branch in Ayala Malls.
This year, Ayala Land is opening The 30th in Pasig City along with the completion of Vertis North in Quezon City and South Park in Muntinlupa City, the second phase of UP Town Center, and the upgrading of Tutuban Center.
The next five years are expected to be bold and exciting with the biggest retail mall development in the country — not to mention the redevelopment of Ayala Center that will transform the 46-year-old Inter-Continental Manila into a modern gateway to Makati, with a transport terminal at the ground floor and five floors of retail.
Now on its 18th edition, the Ayala Malls Merchant Rewards once again welcomed its faithful merchants from Ayala’s Vis Min malls (Centrio Mall, Abreeza Mall and Ayala Center Cebu), Northern malls (Fairview Terraces, Mar-Quee Mall, Harbor Point, Trinoma and UP Town Center) and Southern and Central malls (Bonifacio High Street/ Serendra, Market! Market!, Alabang Town Center, Greenbelt, and Glorietta).
The one-day event featured six inspiring talks in a merchant forum themed “Designing for Retail Tomorrow Today,” a trade exhibit and the much-awaited Awards Night, graced by Don Jaime Zobel de Ayala and fellow Ayala executives.