Magazines Archives - 2009 September

Philippine developers are in the mood to invest
Story 7 - Focus

Sure, their wallets are thinner, they take more time shopping before making a purchase and they try hard to stick to budget. But Filipinos are still buying and injecting money into the vital retail industry, albeit at a slower pace. That has kept mall developers in the mood to invest despite the times.

SM Group, the Philippines’ largest mall developer, has launched a new project in Naga City in the province of Camarines Sur, a 10-hour drive south of Metro Manila. It has also added a new wing to its mall in Rosales, Pangasinan, about five hours north of the capital city, and opened the Skygarden at SM City North Edsa in the heart of the capital.

“The results have been encouraging so far, in relation to the demand for tenant space,” says SM vice-president Millie Dizon.

The group is particularly proud of its North Edsa development, which has generated much buzz among mall-goers.

“The Skygarden is a wonderful example of green roof architecture. Located on the second floor of a parking building, this curving, canopied walkway connecting the Block and the Annex [leads to] restaurant spaces and an entertainment area called the Skydome — [all nestled] amidst more than 500 species of plants as well as water features like waterfalls and bubblers.

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