According to one of the executives of a large mall chain in the Philippines, Metro Manila is in the brink of running out of mall space in the next three to five years.
A report from the Philippine Star mentioned that Robinsons Land Corp. (RLC) commercial centers division general manager Arlene Magtibay said to them that Metro Manila is facing saturation levels in terms of mall space. Thus, it can be expected that established names may be out of business some time in the near future.
Magtibay also told The STAR that competition may be stiffer soon with more malls opening up in the metro. Right now, effect isn’t felt yet but it will be in due time.
Meanwhile, SM Supermalls president Annie Garcia told The STAR saturation point for Metro Manila is still far from happening.
RLC operates 11 malls in Metro Manila while SM has 18.
What do you think? Is mall space in Metro Manila really running out? What do you think will happen if it does?