Resort mall concept arises from Cebu’s tourism edge

CEBU, Philippines — While retail business is seen to surge further in the coming years, Cebu’s edge in tourism opens up a lucrative opportunity for resort mall concept.

Market analyst, and research head for Colliers International Philippines, Joey Roi Bondoc said Cebu’s retail landscape will be boosted further by the strong demand for resort malls, as foreign and local tourists alike want to feel the vibe of Cebu urban resort feel.

Thus, developers are encouraged to cash in on the expected surge in spending, “mall operators should be on the lookout for potential retail space near resort-oriented hotels and condominium projects.”

Contrary to impressions that Filipinos are still cash-strapped, Bondoc said market studies and researches proved otherwise.

Aside from resort mall concepts, retailers, including mall operators are also encouraged to explore retail demands of complementing facilities in townships.

“In our opinion, mall developers and retailers should seriously consider the retail needs of adjacent developments. Townships dominated by office towers will likely have a different retail demand from communities that primarily house condominium projects and hotels,” he explained.

Based on Colliers study, malls should curate their offerings based on the dominant consumer profile – outsourcing employees, OFW remittance-receiving households, or hotel guests.

“Operators should carefully choose their tenants and decide if they should house more F&B retailers, apportion a bigger space for an upscale supermarket, or carve out a flexible workspace,” he said.

Colliers believes that large malls being completed along the reclaimed South Road Properties (SRP) area should exhibit further differentiation.

Developers should seriously consider opening their doors to new and exciting retailers to offer something new to consumers.

Housing a different set of tenants should sustain consumer traffic among these malls. Upcoming malls should explore inviting retailers that would complement tenants in adjacent malls.