Asia in Focus: Inside Manila's Subtropical Greenbelt Mega Mall


As part of our Asia in Focus Series, we head to Manila to explore some of the most iconic developments in Asia's fastest growing economy.  

Greenbelt Mall is 250,000 square metre mega shopping precinct and one of the pre-eminent retail destinations in the Makati district of central Manila, the capital of the Philippines.

Developed and owned by Ayala Malls, a real-estate subsidiary of Ayala Land, which is an affiliate of Ayala Corporation, one of the oldest and most prominent family owned conglomerates in the Philippines. The firm is widely credited for spearheading the Central Business District in Manila in addition to championing education and the arts across the country.

Sitting on an expansive and prime area squared by Makati Avenue, Paseo de Roxas, Arnaiz Road and Legazpi Street is the Greenbelt Mall, a complex of five buildings captures and complements the sub-tropical conditions in Manila with each building exhibiting its own style of architecture.

The mall is centred around an eponymous 'greenbelt' of lush, tropical gardens that provide much needed respite from the heat for thousands of people each day. Included within greenbelt is a Chapel, ponds, and walking tracks.

Each Greenbelt structure offers a different retail and tenancy mix.

Greenbelt 1 houses smaller food and retail tenancies, along with a focus on electronics and home appliances and, of course, car parking.

Greenbelt 2 is comprised of fine dining restaurants, while Greenbelt 3 houses high-end retail stores and coffee shops. Elevated walkways connect Greenbelt 3 and 4 to Landmark and Glorietta, with the Greenbelt cinemas located in Greenbelt 3.

Greenbelt 4, whilst smaller in comparison to its sister buildings, is home to a range of global luxury retail stores, including Coach, Burberry, and Ralph Lauren.

Greenbelt has become a premium fashion and lifestyle centre, a distinct mix of foreign popular and luxury fashion brands as well as the best of Filipino fashion and home designers.
About the Developer - Ayala Corporation
Ayala Corporation is the publicly listed holding company for the diversified interests of the Ayala Group.

Founded in the Philippines by Domingo Róxas and Antonio de Ayala during the Spanish colonial rule, it is the country's oldest and largest conglomerate.

The company has a portfolio of diverse business interests, including investments across most sectors such as retail, education, real estate, banking, telecommunications, electronics, energy, IT, automotive and healthcare among others.

As of November 2015, it is the country's largest corporation in terms of assets ($48.7bn). Ayala Land Inc. (ALI) posted a 14-percent increase in net income for the first quarter of the 2016, owing to a sustained growth in core business operations.

About the Philippines
The Philippine economy is currently one of the star performers of Asia. Since 2010, Philippine GDP has grown at a robust annual average rate of over 6%, continuing to outperform most of the traditional economic achievers of Asia amidst a slowdown in China and other Asian markets.

"It was unthinkable seven years ago, but the Philippines is the best economy in Southeast Asia today," Oxford Business Group (OBG) Managing Editor Paulius Kuncinas told a CNN news conference in May.

What is the main draws for investors? A large, young, English-speaking workforce, and close trade links with Asia, the world's fastest-growing region.

Recent national elections - where Rodrigo "The Punisher" Duterte, a hardline mayor from the southern city of Davoa, was recently elected President, will test the emerging nation.

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