With the rise of entrepreneurs starting businesses in the retail and food sectors, many have thought about leasing a space in malls to take advantage of their naturally high foot traffic. But how much will it take to locate your business inside a popular mall?
In its latest market insights report, real estate analyst Leechiu Property Consultants listed the minimum and maximum rental rates of 14 shopping malls around Metro Manila. The 14 have a total gross floor area of 3.67 million square meters. Check out the ranges of their rental rates in the infographic above.
Among the 14 malls, Eton Properties Philippines’ Centris in Quezon City has the lowest minimum rental rate at Php600/sqm/month. On the other hand, Ayala Land’s TriNoma has the highest minimum rental rate of the group at Php1,500/sqm/month.
Going by maximum rental rates, Centris also has the lowest figure in the group at Php1,200/sqm/month. But the highest figure among the 14 locations went to SM Prime Holdings’ Mall of Asia, where rental rates can go as high as Php2,600/sqm/month.
Leechiu Property Consultants also provided data on the occupancy rates of these 14 malls, which is outlined above. All 14 locations have occupancy rates higher than 80 percent, which highlights the low vacancies across Metro Manila’s popular malls.
Filinvest Land’s Festival Mall in Muntinlupa has the lowest occupancy rates of the group at 84 percent, while two SM malls, SM North EDSA and SM Aura, both have the highest occupancy rate of the group at 99 percent.
Lorenzo Kyle Subido is a staff writer of Entrepeneur PH