Philippine shopping malls innovate due to e-commerce, plus other updates

For PropertyGuru’s real estate news roundup, the rise of e-commerce is reshaping the retail landscape in the Philippines, particularly in shopping malls. In other news, Australia sees a significant uptick in home sales during the end-of-year period. Lastly, NVIDIA and SoftBank have announced a partnership to create Japan’s most advanced AI supercomputer.

E-commerce has seen altering the tenancy mix in Philippine malls
The rise of e-commerce is reshaping the retail landscape in the Philippines, particularly in shopping malls. Brick-and-mortar stores have adjusted to smaller leasable areas. This is most apparent in apparel stores since more people are shifting toward buying their clothes and accessories online. Retail developments also use strategies like double-digit monthly sales (e.g., 1.1, 2.2, 3.3) and bank partnerships for discounts to boost foot traffic, transit-oriented developments to enhance community involvement and mall access, and improvements in their exterior and interior designs to accommodate lush greeneries and open space, as well as improved areas for convergence and retail spaces. Even government satellite offices and various churches are occupying mall spaces. BusinessWorld reports that this trend is driven by consumers’ increasing preference for convenience, prompting mall operators to adapt their tenancy strategies to cater to evolving demands.

Spring surge: Why Aussie home sellers keep choosing the end of the year to sell
Australia sees a significant uptick in home sales during the spring season, and a similar trend continues into the end-of-year period. PropTrack highlights that nationally the highest prices are achieved in November, 0.78 percent above the average throughout the year. This is based on an analysis of sales from 2014 to 2023. Sellers take advantage of increased buyer demand and the desire to finalise transactions before the holiday season. According to the report, this period offers an optimal window for sellers to maximise their property’s market potential.

NVIDIA and SoftBank to develop Japan’s leading AI supercomputer
NVIDIA and SoftBank have announced a partnership to create Japan’s most advanced AI supercomputer. DataCenterNews Asia reports that this project will leverage NVIDIA’s cutting-edge technology and SoftBank’s data infrastructure expertise to bolster Japan’s AI research and development capabilities. The supercomputer is expected to accelerate advancements in telecommunications, transportation, robotics, and healthcare industries, strengthening Japan’s position in the global AI race.

The Property Report editors wrote this article. For more information, email: [email protected].