The Araneta Shopping Complex and Ayala's Glorietta and Gokongwei's Robinson's took the step ahead of SM Shoemart in real estate development.
Today, the Ayala, Gokongwei and the Sy families -- all dynamic mall owner-developers -- are racing towards who will build the most number of subdivisions, high and medium rise condominiums in the country.
The Sy family has diversified into shipping -- something that the Gokongwei clan and the Ayalas may have already ventured into long ago. It has also purchased a major stake in entertainment - building of a casino complex at Manila Bay. At the heart of these stupendous expansion of the retail giants is their banking activity.
Mall income turnover and operations are fast paced and the revenues are staggering. For which reason their banks take the brunt of imagining schemes to multiply the deposited monies oozing out of their mall operations. The best and least risky investment area is real estate, thus the sprouting of so many malls one after another.
No comments:
Post a Comment