40 new malls to open in PH in the next 2 years, says Philippine Retailers Association head
Pinoys will have more places to "shop ’til they drop."
ABS-CBNNews.com’s Ira Pedrasa reports that Philippine Retailers Association (PRA) chairman Frederick Go revealed on Wednesday, August 7 that Filipino mall developers are planning to open 40 new malls in the next two years.
According to the report, Go said during the opening of the National Retail Conference and Stores Asia Expo 2013 that the country’s retail industry foresees total sales to reach P1.53 trillion this year due to strong consumer confidence and economic growth. Although Go did not provide further details about where the future malls will be built, he said "the opening of more malls in the next few years will further boost the sales to P1.98 trillion by 2017."
Go added that the retailers’ outlook for this year even improved with the release of the Economist Intelligence's "Globe Shopper Index Asia-Pacific" report that showed Manila securing the 11th spot in the top 25 most attractive places to shop for foreign shoppers.
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