These are the notable mall openings in Manila recently

A total of 236,900sqm of new retail space was added in 2023 and 2024.

According to a Savills report, the retail landscape in the Philippines has significantly rebounded post-pandemic, with key market players capitalizing on the growth opportunities by expanding their footprint nationwide.

Leading mall developers, such as Ayala Malls and SM Retail, are strategically enhancing their portfolios, including the renovation of existing properties, to accommodate the demand and maximize returns from prospective tenants.

Here’s more from Savills:

The retail mall supply in Metro Manila has grown substantially, however, between 2019 and 2021, growth plateaued as the COVID-19 pandemic led to restrictions that made new mall openings challenging. As pandemic-related restrictions eased in 2022, the surge in consumer spending, often referred to as ‘revenge spending’,stimulated renewed demand in the retail sector.

In response, developers have expedited construction projects, resulting in an additional 236,900 sq m of retail space being added in 2023 and 2024. Notable new openings include Gateway Mall 2, Parqal Mall, GH Mall (2023), and Opus Mall (2024) in Bridgetowne.

In addition to these new developments, ongoing expansion and renovation projects are further transforming Metro Manila’s retail landscape. For example, Ayala Malls is currently constructing a new retail development in Arca South, which will add approximately 103,000 sq m of gross floor area (GFA), while significant constructions are underway at Greenbelt 1 and 2. These efforts reflect the sector’s response to the heightened demand for retail space as the economy recovers.