The attractiveness of the Philippine market to foreign retailers is further enhanced by an average rental rate that is highly competitive when compared with other ASEAN countries such as Vietnam and Indonesia.

SM Supermalls chief operating office Steven T. Tan at the Nikkei Business Forum.

In contrast to many large format stores rightsizing and shopping centers closing down in many parts of the world, retail in the Philippines remains vigorous and upbeat.

In a recent Nikkei Business Philippines-Japan Investment Forum in Tokyo, Japan, SM Supermalls chief operating officer Steven Tan said a combination of market forces — robust overseas Filipino workers’ remittances and sustained activity in the business process outsourcing industry — fuel consistent growth in the Philippine economy and drive consumer purchasing power.

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