Philippines' New Shopping Mall Concept

I was recently in Bacolod, Philippines, examining retail sector opportunities. The CityMall pictured is a new shopping mall concept. It looks to capture spending by shoppers in the country’s secondary cities. I spoke with the company’s billionaire CEO, Edgar Sia II, earlier this year in Manila. His intention is to create malls in metro areas that can be reached by foot, not just car. The format is significantly smaller than the typical Robinsons or SM mall given land constraints in inner city areas. Today, there are 18 CityMalls in operation and most are in regional cities such as Bacolod rather than in Greater Manila. The model’s success will have interesting implications for shopping mall development in other Southeast Asian cities.