Manila mall operators looking to add record space
Rising remittances from overseas Filipinos, a business-process outsourcing boom are fuelling household spending
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Manila
PHILIPPINE builders such as SM Prime Holdings and Ayala Land can't add retail space fast enough to satisfy demand from South-east Asia's most-confident consumers that pack Manila's malls.
A record 724,620 square metres of new retail space will be added in the Philippine capital next year, according to Colliers International. That is a 10th of the existing stock as at the third quarter, according to the real estate broker.
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