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Foodparks to expand in PH retail market this year
The expansion of malls outside Metro Manila, as well as the establishment of the millennialdriven food parks, may be expected in the retail property market this year, a property analyst said.
Prime Philippines managing director Jet Yu said demand for sites for building foodparks is seen increasing this year, mainly driven by the millennial market.
“ With its surge in popularity, more and more vacant lots will be obtained or leased out for the purpose of food parks. We may project this trend similar to the trend of food markets like Mercato, which had a boom in 2011 in terms of new food markets established and set up,” Yu said.
The managing director said the demand for vacant lots for food parks increased by more than 10 times in Metro Manila last year.
“ 2016 saw the rise in popularity of food parks stemming from establishments
NCCC merges affiliate brands into one
New City Commercial Corporation( NCCC) affiliated brands merge to form one, stronger company – the LTS Retail Specialists Inc. These brands include NCCC Supermarket, Choice Mart by NCCC, HB1 Pharmacy, Breadfactory, Citifoods, and Munchies.
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such as StrEat Maginhawa, which was followed by multiple food parks along the area and in other cities,” Yu said.
Apart from catering to the millennial market, the food park trend also presents advantages for the Micro, Small and Medium Enterprise( MSME) market, Yu said.
“ Food parks give small scale businesses the venue to thrive and profit from a captive market setup with relatively lower costs compared to taking out a lease at bigger establishments. Yu explained.” This is timely as business registration of both old and new businesses continue to increase,” Yu explained.
“ With the food park craze, rapid establishment has already begun from last year, and more food parks will be established until the end of 2017,” the managing director said.
Aside from the food park trend, Yu said another trend to expect in the retail market this year is the expansion of mall developers to areas outside of Metro Manila.
“ As for the major mall developers, there are no signs of slowing down as the outlook for expansion outside Metro Manila, Visayas and Mindanao remains a top-priority for 2017,” Yu said.
According to Jones Lang Lasalle Philippines Regional Director Sheila Lobien that expansion of mall developers towards the provincial areas is in line with bringing the needs of consumers closer to them so that they would not have to travel to Metro Manila for their basic needs.
The Manila Times, 02 / 01 / 2017
NCCC Supermarket and Choice Mart by NCCC were previously under LTS Supermarkets Inc. while HB1 Pharmacy was under LTS Community Stores Inc. The Breadfactory, Munchies, and Citifoods belonged to LTS City Foods Inc.
The Davao City based retail chain has a total of seven business units namely LTS Retail Specialists Inc.; LTS Malls Inc. which manages all the mall operations in Davao, Palawan, and Tagum; LTS Department Stores Inc.; and LTS Hardwares Inc. Also under the NCCC Group of Companies are LTS City Foods Inc. which operates the commissary; LTS Community Stores Inc.
1ST QUARTER, 2017
SSI partners with Muji operator to bring Japan brand to PH
Specialty stores operator SSI Group Inc. has signed a joint venture deal with a Japanese company to bring the Muji retail brand to the Philippines.
SSI Group, through its wholly owned subsidiary Stores Specialists Inc.( SSI), entered an agreement with Japan’ s Ryohin Keikaku Co. Ltd.( RKJ) to form a joint venture company called Muji Philippines Corp., which will own and operate Muji stores in the Philippines.
“ The joint venture with RKJ is expected to strengthen the Muji brand in the Philippines and enable cost efficiencies,” SSI said in a disclosure to the Philippine Stock Exchange.
Muji is a Japanese retailer which operates some 420 stores in Japan and 390 stores internationally as of October 2016.
SSI will have a 51-percent stake in the joint venture while RKJ will hold the balance of 49 percent. SSI will infuse P89.25 million in Muji Philippines while RKJ will invest P85.75 million.
Muji Philippines is expected to commence operations on April 1.
The Manila Times, 01 / 23 / 2017
which runs PrintLife; and LTS Pinnacle Holdings Inc. which provides the support services for the store operations, with such departments as Finance, Information Technology, and Human Resources, among others.
Sun Star Davao, 02 / 01 / 2017