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111 Rada Street Legaspi Village
Makati City 1229 Philippines 
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Cebu City, 6000 Philippines
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May 25, 2018

UK retailer M&S says to shut more than 100 stores

NEWS
British food-to-clothing retailer Marks and Spencer will shut more than 100 “underperforming” UK stores in an ongoing restructuring, it said Tuesday. The high-street chain has expanded its closure plans as it aims to shift at least a third of sales online, the group announced in a statement. The London-listed giant did not specify the number of job losses — but thousands of positions are believed to be at risk, according to media.

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RESEARCH VIEW
Unlike the United States and other Western economies where brick-and mortar businesses close shops due to the fierce competition brought about by online retail businesses, malls in the Philiuppines remain an important part of the Filipino lifestyle and continue to attract consumer traffic. This is the reason why developers and retailers do not migrate totally to e-commerce but in fact use online shopping and social media platforms to complement their physical stores. To boost consumer traffic, Colliers encourages malls to provide more lifestyle amenities and technology-driven customer experiences that generate a sense of destination.

Bicol mall chain LCC partners with PayMaya

NEWS
PayMaya Philippines Inc., the digital financial arm of PLDT Inc.’s Voyager Innovations Inc., has partnered with Liberty Commercial Center Inc. (LCC) which operates malls, supermarkets, and department store chains in Bicol to enable cashless payments in the region. With the partnership, Bicol residents can now buy their EMV-powered PayMaya cards and add money to their PayMaya accounts at select LCC stores across the region. In addition, shoppers can now pay for purchases using the PayMaya app by scanning the Quick Response (QR) code displayed at the cashier area at more than 70 branches of LCC Department Store, LCC Supermarket, LCC Market Savers, LCC Market Plus, LCC Store Plus, and LCC Expressmart.

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RESEARCH VIEW

Unlike the United States and other Western economies where brick-and mortar businesses close shops due to the fierce competition brought about by online retail businesses, malls in the Philiuppines remain an important part of the Filipino lifestyle and continue to attract consumer traffic. This is the reason why developers and retailers do not migrate totally to e-commerce but in fact use online shopping and social media platforms to complement their physical stores. To boost consumer traffic, Colliers encourages malls to provide more lifestyle amenities and technology-driven customer experiences that generate a sense of destination.

Cebu Landmasters on track to hit P1.7-billion income target

NEWS
Cebu Landmasters Inc. (CLI) is on track to hit its net income target of P1.7 billion for the year as it continues to benefit from strong demand for its various housing projects, the property firm said. This year’s target is 31 percent higher than the P1.24 billion earnings the company posted last year. It is also on track to hit its revenue target of P5.3 billion for the year as it continues to grow its market share, the company said in a presentation to analysts. In Metro Cebu, the company remains the top local housing developer with a 12 percent share in the condominium market and an 18 percent share in the house and lot segment. It has been enjoying robust reservation sales, which rose by 24 percent to P2.68 billion during the quarter, putting the company on track to hitting P7 billion for the year.

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RESEARCH VIEW

Both national and local developers have been active in addressing the rising demand for residential projects in major urban areas in Visayas, and Mindanao. The improvement of road networks and expansion of airports should further unlock land values in these areas, making them more feasible for residential projects. The demand for residential units in these locations will continuously grow as we believe that a significant part of the remittances sent in by OFWs annually will be set aside for Filipinos’ housing requirements. Developers will continue to venture into residential projects in second-tier and third-tier cities all over the country, where demand comes from end-user buyers. The markets may be smaller compared to Manila but more stable in terms of end user housing demand.

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Colliers International | Manila 11F Frabelle Business Center, 111 Rada Street Legaspi Village, Makati City 1229 Philippines | Tel: +632 888 9988