Demand of Retail Spaces Today

by Marielle Culibao  September 30, 2016

In the fast-paced world of today, we Filipinos crave and are in dire need of something that keeps our money flowing inward. Based on a study early this year, majority of the people have been in the likes of joining in the food and beverage industry. Some startup companies engage in wide variety of product lines of food and beverage, hence the space requirement will vary as well. Minimum size of retail stores nowadays ranges from 15 up to 25 square meters, but for clienteles who wish to lease units there is an available space of 50 up to 80 square meters. There are also a few big time clients who choose to purchase 500 to 800 square meters. Minimum term that would be available would at least be at 5 years for the lessee, while 1 to 2 years for the sub-lessee.

Aside from the booming F&B (food and beverage) industry, there are also few arising industries such as health and wellness retail outlets and service industry outlets (such as salon, spa, and gym) requires a space of 150 to 250 square meters. Other businesses such as e-games and e-bingo would have different space requirement. This establishment requires at least 500 square meters to put up the said business.

The expansion of both foreign and local retail brands mainly supports strong household consumption an OFW remittances. Taking advantage of this opportunity from consumers and seeing this continuing, developers have been announcing their retail expansion plans which are expected to cut across in the upcoming months.

 

Source: PRIME Philippines Research Group

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