{"id":21703,"date":"2016-08-02T18:51:10","date_gmt":"2016-08-02T11:51:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-the-retail-boom-means-for-the-philippines-industrial-sector\/"},"modified":"2016-08-02T18:53:25","modified_gmt":"2016-08-02T11:53:25","slug":"what-the-retail-boom-means-for-the-philippines-industrial-sector","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-the-retail-boom-means-for-the-philippines-industrial-sector\/","title":{"rendered":"What the retail boom means for the Philippines\u2019 industrial sector"},"content":{"rendered":"


\nA blossoming retail segment could have a domino effect on the country\u2019s sluggish industrial sector
\nTowers in Makati, the financial district of Metro Manila, rise above a shopping mall. Image credit: Deortiz (Flickr)
\nA booming retail segment could be the lift necessary to buoy the Philippines\u2019 industrial sector, marked by years of dormancy and decline.
\n\u201cIndustrial is set to be the next boom because as people see their purchasing power increase, retail companies that serve them are definitely going to need more storage facilities in the country, which is where logistics and manufacturing facilities come in,\u201d Jettson Yu, founder of real estate services firm Prime Philippines, said.
\nIndustry accounts for only 31 percent of the Philippines\u2019 total gross domestic product (GDP), compared with 57 percent for services, according to the Philippine Statistics Authority. Most of the Philippines\u2019 manufacturing segments have faced stagnation or declined since 2000, the Oxford Business Group said in a 2015 report.
\nThe country\u2019s retail sector, in comparison, has matured fast, with gargantuan shopping malls dotting the islands and enjoying staggering revenues.
\nSM Prime Holdings, which runs the eponymous chain of malls across the archipelago, traced 60 percent of total revenues in the first half of 2016 to its mall operations. Its malls then generated PHP23.6 billion (USD502 million) in total revenues, a 9 percent increase from the previous year.
\nMore: A look at the Philippines\u2019 emerging secondary real estate markets
\nSuch purchasing power hinges on the ever-increasing clout of the fast-rising business process outsourcing (BPO) sector in the Philippines, which accounted for 7.5 percent of the gross domestic product in 2015.
\nOver-reliance on the BPO, however, may not be providential in the long run.
\n\u201cMuch of our GDP expansion has come from the business process outsourcing (BPO) sector and foreign remittances. Our worry is that the BPO sector, especially call centres, is plateauing. More efforts should be exerted to shore up manufacturing to achieve inclusive growth,\u201d Crisanto Frianeza, secretary-general of the Philippine Chamber of Commerce and Industry, said.
\nSometimes, the retail and industrial sectors come into collusion, as in the case of another mall operator, Robinsons Retail, which has acquired various hardware chains in the last two years. It most recently acquired De Oro Pacific Home Plus Depot, a chain of big-box stores for builders\u2019 hardware depot in Northern Mindanao. The company has a 3,000-square-meter warehouse in the city of Cagayan de Oro.
\nRead next: Cities within a city: the rise of Manila\u2019s new urban townships
\n
\nSource : property-report.com
\nRead more…What the retail boom means for the Philippines\u2019 industrial sector<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A blossoming retail segment could have a domino effect on the country\u2019s sluggish industrial sector...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-21703","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5E3","jetpack-related-posts":[{"id":26061,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/booming-philippine-property-market-inspires-confidence-among-expat-investors\/","url_meta":{"origin":21703,"position":0},"title":"Booming Philippine property market inspires confidence among expat investors","date":"September 14, 2016","format":false,"excerpt":"\r The overwhelming majority of Filipinos in the UAE are optimistic that the property sector in their home country is rapdily improving, according to a new survey.A poll conducted by New Perspective Media (NPM), the organisers of the annual Philippine Property and Investment Exhibition, showed that 98 per cent of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cebu-expert-to-discuss-emerging-markets-at-property-report-congress\/","url_meta":{"origin":21703,"position":1},"title":"Cebu expert to discuss emerging markets at Property Report Congress","date":"April 4, 2016","format":false,"excerpt":"\r Jose Soberano III of Cebu Landmasters Inc will impart his local market knowledge at the high-level conference in Makati As we countdown to the Property Report Congress Philippines 2016, we\u2019ll get to know the respected market leaders who will speak at the conference on 7 April at the Fairmont\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-golden-growth-opportunities-for-the-philippine-real-estate-sector\/","url_meta":{"origin":21703,"position":2},"title":"3 golden growth opportunities for the Philippine real estate sector","date":"January 28, 2016","format":false,"excerpt":"\r What\u2019s next for the country\u2019s property industry in 2016? 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